Companies

NTPC raises ₹4,300 cr through bonds

PTI New Delhi | Updated on July 15, 2019 Published on July 15, 2019

File photo

State-owned power giant NTPC Monday raised ₹ 4,300 crore through bonds, which would be used for capital expenditure and general corporate requirement.

The company entered the bond market to raise long-term debt for its capital expenditure and general corporate requirements, with an issue of base size of ₹500 crore with a green shoe option to retain oversubscription of up to ₹ 4,000 crore and a tenure of 10 years, a BSE filing said.

According to the statement, the bidding for the issue took place on BSE’s EBP portal between 10.30 and 11.30 am on Monday.

The company told the bourse that the issue generated an overwhelming response among investors and bids of ₹ 9,359.90 crore were received.

However, NTPC has decided to retain an aggregate amount of ₹ 4,300 crore at a coupon of 7.32 per annum.

This was the largest-ever private placement of bonds by NTPC, showing investors’ continued faith and confidence in the number one power generating company of the country. These bonds will be listed on the National Stock Exchange and the BSE, it added.

Published on July 15, 2019
This article is closed for comments.
Please Email the Editor