Bids amounting to Rs 1,305 crore were received against issue size of Rs 750 crore.
State-run power generator NTPC Ltd has raised Rs 1,072 crore through 15-years bonds issue, which were oversubscribed by 1.74 times.
Power Minister Piyush Goyal tweeted:
The 61st series bonds issued on Wednesday has a door-to-door maturity of 15 years. Bids amounting to Rs 1,305 crore were received against issue size of Rs 750 crore.61st series bonds issued on Wednesday has a door-to-door maturity of 15 years. Bids amounting to Rs 1,305 crore were received against issue size of Rs 750 crore.
After creating pricing tension, a coupon of 8.10% was achieved which was inside of corporate 10-year "AAA" yield curve by 10-14 basis points and an amount of Rs 1072.50 crore was allocated to successful bidders.Rs 1072.50 crore was allocated to successful bidders.
The proceeds of the issue will be utilised for capital expenditure.
The company plans to raise $1 billion (Rs 6,731 crore) through the issuance of bonds for its capital expenditure and other requirements during the ongoing fiscal.
Earlier this month, the company had raised Rs 1,000 crore through private placement of secured non-convertible debentures at a coupon of 8.05% per annum with a 10-year door-to-door maturity.
The company had said that the proceeds will be utilised to finance capital expenditure and refinancing the debt requirement in on-going projects including recoupment of expenditure already incurred.
NTPC is the largest power producer in the country with total group installed capacity of 47,178 MW through 18 coal based, seven gas-based, nine solar renewables, one hydro and nine joint venture power stations.
The company has planned to have a total power generation capacity of 128GW by 2032.
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