Description

Seven new debt securities of Adani Transmission Step-Two Limited listed on BSE Debt segment with maturities ranging from 2026 to 2042, totaling 100,000 securities with interest rates between 7.70% to 7.99% p.a.

Summary

BSE has listed seven new debt securities issued by Adani Transmission Step-Two Limited on private placement basis, effective October 23, 2025. The securities were allotted on October 17, 2025, with a total quantity of 100,000 debentures. All securities have a face value and issue price of Rs. 100,000 each, with interest rates ranging from 7.70% to 7.99% p.a., payable quarterly. The securities carry CRISIL AA+/STABLE and IND AA+/Stable credit ratings and mature between December 2026 and September 2042.

Key Points

  • Seven new debt securities of Adani Transmission Step-Two Limited listed on BSE Debt segment
  • Total quantity: 100,000 debentures across all seven series
  • Face value and issue price: Rs. 100,000 per debenture for all series
  • Date of allotment: October 17, 2025
  • Credit rating: CRISIL AA+/STABLE and IND AA+/Stable for all securities
  • Interest payment: Quarterly for all securities
  • Market lot: 1 debenture for all series
  • Trading permitted only in dematerialized form
  • Tick size: 1 paise
  • No put/call options available on any security

Securities Details

Series 1 (Scrip Code: 977232)

  • ISIN: INE0YRB07076
  • Quantity: 7,280
  • Interest rate: 7.70% p.a.
  • Redemption date: December 31, 2026
  • Interest payment: December 31, 2025 to December 31, 2026

Series 2 (Scrip Code: 977233)

  • ISIN: INE0YRB07068
  • Quantity: 7,180
  • Interest rate: 7.70% p.a.
  • Redemption date: September 30, 2027
  • Interest payment: December 31, 2025 to September 30, 2027

Series 3 (Scrip Code: 977235)

  • ISIN: INE0YRB07050
  • Quantity: 9,460
  • Interest rate: 7.70% p.a.
  • Redemption date: September 30, 2028
  • Interest payment: December 31, 2025 to September 30, 2028

Series 4 (Scrip Code: 977236)

  • ISIN: INE0YRB07043
  • Quantity: 9,360
  • Interest rate: 7.75% p.a.
  • Redemption date: September 30, 2029
  • Interest payment: December 31, 2025 to September 30, 2029

Series 5 (Scrip Code: 977237)

  • ISIN: INE0YRB07019
  • Quantity: 6,720
  • Interest rate: 7.75% p.a.
  • Redemption date: September 30, 2030
  • Interest payment: December 31, 2025 to September 30, 2030

Series 6 (Scrip Code: 977238)

  • ISIN: INE0YRB07027
  • Quantity: 48,286 (largest series)
  • Interest rate: 7.80% p.a.
  • Redemption date: September 30, 2040
  • Interest payment: December 31, 2025 to September 30, 2040

Series 7 (Scrip Code: 977239)

  • ISIN: INE0YRB07035
  • Quantity: 11,214
  • Interest rate: 7.99% p.a. (highest rate)
  • Redemption date: September 30, 2042
  • Interest payment: December 31, 2025 to September 30, 2042

Regulatory Changes

No regulatory changes. This is a standard listing notification for privately placed debt securities.

Compliance Requirements

  • Trading members must ensure these securities are traded only in dematerialized form under the specified ISIN numbers
  • Trading members should refer to the Placement Memorandum available on BSE website for further details
  • Tick size of 1 paise must be maintained for all transactions
  • For clarifications, trading members may contact BSE debt department at 22728352/8597/8995/5753/8915

Important Dates

  • Date of Allotment: October 17, 2025
  • Listing Date: October 23, 2025
  • First Interest Payment Date: December 31, 2025 (for all series)
  • Redemption Dates: Range from December 31, 2026 to September 30, 2042 depending on series

Impact Assessment

Market Impact: Low. This is a routine listing of privately placed debt securities that adds to the debt market inventory. The securities are institutional in nature with high face value (Rs. 1 lakh per debenture) and will have limited retail participation.

Issuer Profile: Adani Transmission Step-Two Limited is part of the Adani Group, engaged in power transmission business. The AA+ credit rating indicates strong creditworthiness.

Investor Impact: Relevant for debt investors seeking exposure to infrastructure sector bonds with quarterly interest payments. The securities offer a maturity ladder from short-term (1.2 years) to long-term (17 years), providing options for different investment horizons.

Liquidity: Expected liquidity may be limited given the private placement nature and institutional ticket size. Market lot of 1 provides some flexibility for trading.

Impact Justification

Routine listing of privately placed debt securities for debt market participants; no impact on equity markets or regulatory changes