The Non-Convertible Debentures issued by Power Finance Corporation Limited starts from July 21st, 2023 to July 28th, 2023. This NCD has been rated CRISIL AAA/Stable by CRISIL Ratings Limited, ICRA AAA Stable by ICRA Limited AND CARE AAA, Stable by CARE Ratings Limited
Three separate series of NCDs are being issued, with terms varying 3, 10 and 15 years and coupons ranging from 7.45 % p.a. to 7.55 % p.a. The maximum amount the company hopes to raise is Rs 10,000 crore with a Face value of Rs. 1000 each NCD and a minimum lot size of 10 NCD. The NCDs have a redeemable and secure nature. Let’s investigate more details and get into greater detail about this NCD issue.
About Power Finance Corporation Limited
Power Finance Corporation Limited (PFC), incorporated in 1986, is a leading financial institution in India, specializing in the power sector. PFC collaborates with government agencies, state governments, power utilities, and private sector clients to develop and implement policies and reforms in the power sector.
Registered with the RBI as a non-deposit taking systemically important NBFC, PFC attained ‘Navratna’ status in 2007. It offers a comprehensive range of financial products and services, including project support from conceptualization to post-commissioning stages, various forms of fund-based and non-fund-based assistance, and fee-based technical advisory services through its subsidiary, PFC Consulting Limited.
Power Finance Corporation NCD 2023 – Issue Details
| Issue Type | Secured, Redeemable, Non-Convertible Debentures |
| Issue Company | Power Finance Corporation Limited |
| Issue Open | July 21st, 2023 |
| Issue Close | July 28th, 2023 |
| Coupon Rate (ROI) | 7.45 % p.a. to 7.55 % p.a. |
| Face Value | Rs. 1000 |
| Issue Price | Rs. 1000 |
| Issue Size | Shelf – Rs. 10,000 Cr. |
| Minimum Order Quantity | 10 NCDs (Rs. 10,000) |
| Listing | BSE |
| Listing Date | Within 6 Working Days of Issue Closing Date |
Power Finance Corporation NCD 2023 – Objects of the Issue
The proceeds from the Issue will be used as follows, as stated by the company:
- For the purpose of onward lending, financing / refinancing the existing indebtedness of the company, and/or debt servicing (payment of interest and/or repayment/prepayment of interest and principal of existing borrowings of the company).
- General Corporate Purposes.
Power Finance Corporation NCD Issue Ratings
This NCD issue has been rated CRISIL AAA/Stable by CRISIL Ratings Limited.
Power Finance Corporation Limited – Company Contact Details
- Address: “Urjanidhi”, 1, Barakhamba Lane, Connaught Place, New Delhi – 110 001
- Telephone: +91 11 2345 6000
- Website: https://www.pfcindia.com/
Power Finance Corporation Limited NCD 2023 – Lead Manager of the Issue
The lead manager for this NCD issue is Jm Financial Limited, A.K. Capital Services Limited, Smc Capitals Limited, Trust Investment Advisors Private Limited and Nuvama Wealth Management Limited.
Power Finance Corporation Limited NCD 2023 – Registrar of the Issue
The registrar of this NCD issue is Kfin Technologies Limited.
Power Finance Corporation Limited NCD 2023 – Debenture Trustee
The trustee of this debenture issued by Power Finance Corporation Limited is Beacon Trusteeship Limited.
Issue Documents
Please click here to read the final issue prospectus for detailed information on Power Finance Corporation Limited NCD issue 2023.
Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Investment in securities is subject to market risk. Please read the offer document carefully before investing. It is also advised to consult your financial advisor of necessary suggestions.
