Power Finance Corp opens Rs 5,000 crore NCDs on Jan 15

New Delhi [India], Jan 14 (ANI): State-owned Power Finance Corporation (PFC) will open its Rs 5,000 crore public issue of secured, redeemable non-convertible debentures (NCDs) on January 15, the Ministry of Power said on Thursday.

The base issue size is Rs 500 crore with an option to retain oversubscription of up to Rs 4,500 crore, aggregating up to Rs 5,000 crore which is within the shelf limit of Rs 10,000 crore.

The NCDs are of face value of Rs 1,000 each. The tranche one issue is scheduled to close on January 29 with an option of early closure or extension as decided by PFC's board of directors or a duly constituted committee.

The minimum application size is for 10 NCDs aggregating to Rs 10,000 collectively across all series of NCDs and in multiples of one NCD of face value of Rs 1,000 each thereafter.

The NCDs offered through the shelf prospectus and the tranche one prospectus is proposed to be listed on BSE Ltd, said the statement issued by Power Ministry.

Lead managers to the issue are Trust Investment Advisors, A K Capital Services, Edelweiss Financial Services and JM Financial. (ANI)