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NCD Status: Closed [21st Jul 2023 to 26th Jul 2023]
Power Finance Corporation Limited issues secured and Redeemable NCD comprises Shelf issue size of worth Rs 10,000.00 Cr and Base issue size is not defined yet. The subscription is opening from 21 July 2023 to 28 July 2023. The company issues series I to III at an issue price of Rs. 1000 per NCD. One can subscribe to the NCD with a minimum ticket size of Rs. 10,000 (10 NCDs) . The face value of each NCD is Rs 1000. The NCD tenor is 3, 10 and 15 years with a coupon rate ranging from 7.49% to to 7.55% per annum.
Check more about the Power Finance Corporation Limited including credit rating, Coupon rates for each series, the basis of allotment, payment frequency, and more.
| NCD Opening Date: | 21st Jul 2023 |
| NCD Closing Date: | 26th Jul 2023 |
| NCD Type: | Secured NCD |
| Issue Size (Base): | ₹500.00Cr |
| Issue Size (Shelf): | ₹5000.00Cr |
| Face Value: | Rs 1000 each NCD |
| Issue Price: | Rs 1000 per NCD |
| Market Lot: | 1 NCD |
| Min Order Qty: | 10 NCD |
| Min Order Amount: | Rs 10000 |
| Listing at: | BSE |
| Tenor: | 3, 10, and 15 years |
| Rating: | CARE AAA, Stable by CARE Ratings Limited, CRISIL AAA/Stable by CRISIL Limited and ICRA AAA, Stable by ICRA Limited |
| Series: | Series I to III |
| Payment Frequency: | Annually |
| Basis of Allotment: | |
| Interest on return: |
Zerodha Trade@20
| NCD Activity | Date |
|---|---|
| NCD Issue Open | 21st Jul 2023 |
| NCD Issue Close | 26th Jul 2023 |
| BSE Code: | 3084 |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 500000 | 10% |
| Non-Institutional | 500000 | 10% |
| HNI | 2000000 | 40% |
| Retail | 2000000 | 40% |
Power Finance Corporation Limited was established in 1986. The company is one of India's leading public financial institutions and a Schedule-A Maharatna Central Public Sector Enterprises (CPSE) focused on the power sector. The company plays a strategic role in the Government of India's power sector development initiatives in India and works with Government of India agencies, state governments, power utilities, other power sector intermediaries, and private sector clients to promote policy development and implementation, and structural and procedural reforms in the Indian power sector.
The company's portfolio includes financial products and services such as rupee loans, short-term loans and equipment lease financing, transitional financing, etc. for various power projects in the generation, transmission and distribution sectors. In recent years, this company's focus areas have been strategically expanded to include projects that provide forward and backward linkages to core power sector projects, including procurement of capital equipment for the power sector, fuel sources for power generation projects, and related infrastructure development. the company also finances power trading initiatives.
In addition, the Company is involved in various Government of India programs in the power sector, including as a nodal agency for Revamped Distribution Sector Scheme (RDSS), Ultra Mega Power Projects (UMPPs), Integrated Power Development Scheme (IPDS), Coordinator of Bidding Process for Independent Transmission Projects (ITPs), DISCOM Liquidity Package under Atmanirbhar Bharat and Late Payment Surcharge (LPS) Rules, 2022. Going forward, the Company aims to contribute to the Government's renewable and clean energy efforts. The company has focused its activities to take advantage of emerging opportunities in the electric mobility sector and build trust in the transmission and distribution (T&D) sector. It recently modified its website, MOU, to enable lending in the infrastructure and logistics sectors.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus |
|---|---|---|---|---|---|
| 31-Mar-21 | 775,707.08 | 71,700.67 | 15,716.20 | 81,790.25 | 60,371.31 |
| 31-Mar-22 | 791,000.27 | 76,344.92 | 18,768.21 | 96,275.15 | 69,310.98 |
| 31-Mar-23 | 896,111.86 | 77,625.19 | 21,178.59 | 111,981.28 | 82,507.74 |
| Amount in ₹ Crore | |||||
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
Power Finance Corporation Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 |
|---|---|---|---|
| Frequency of Interest Payment | Annual | Annual | Annual |
| Nature | Secured | Secured | Secured |
| Tenor | 3 Years | 10 Years | 15 Years |
| Coupon (% per Annum) | 7.50% | 7.53% | 7.55% |
| Effective Yield (% per Annum) | 7.49% | 7.52% | 7.54% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
The promoter of the company is the President of India acting through the Ministry of Power, Government of India.
The NCDs proposed to be issued under the issue have been rated "CARE AAA, Stable" by CARE Ratings Limited, "CRISIL AAA/Stable" by CRISIL Limited, and "ICRA AAA, Stable" by ICRA Limited.
Last Updated on 2023-07-29T07:00:30+00:00
