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Jindal Power Plans $1 Billion Offshore Loan to Fund Expansion

Jindal Power Limited is planning to raise up to $1 billion through offshore loans to support its overseas expansion, sources familiar with the matter said. The move is expected to provide relief to India’s dollar loan market, which has been affected by global trade fluctuations.

As part of the financing, Jindal Power has already secured an eight-year loan of approximately $500 million from lenders including Axis Bank and ICICI Bank. The remaining $500 million is anticipated to be raised in the coming months.

The first tranche of $500 million was priced at roughly 300 basis points over the Secured Overnight Financing Rate (SOFR). The funds will support Jindal Power’s expansion, including a major power project in Botswana, and help Indian companies maintain their global footprint amid heightened trade protectionism and cautious investor sentiment.

This fundraising comes at a time when offshore borrowing by Indian firms has slowed, with US dollar loan volumes dropping nearly 50% in 2026 compared to the previous year, according to Bloomberg-compiled data.