PFC Non-Convertible Debentures Lists On BSE

Base Issue of Rs 500 crs oversubscribed by 5.65 times with a total collection of Rs 2,824.48 Crore
HNI category oversubscribed by 8.99 times (of the Base Issue Size) with a total collection of Rs 1,797.61 Crore
Most of the monies have been raised at an effective annual yield of 7.54%
Issue opened on Friday, July 21, 2023 and was scheduled to close on Friday, July 28, 2023. The issue was early closed on July 26, 2023 by exercising option of early closure.
Effective yield (per annum) for NCD holders ranges from 7.44% to 7.54%.

August 03, 2023: The Public Issue of secured, rated, listed, redeemable non-convertible debentures by Power Finance Corporation Limited, a Company registered with the Reserve Bank of India (RBI) as a non-deposit taking systemically important Non-Banking Financial Company (NBFC), classified as an Infrastructure Finance Company (IFC) on July 28, 2010, with a belief that its NBFC and IFC classifications enables it to effectively capitalize on available financing opportunities in the Indian power sector, listed on the BSE.

The issue was oversubscribed 5.65 times garnering Rs 2,824.48 crore. The NCD has a face value of Rs. 1,000 each. The base issue size is Rs. 500 crores with a green shoe option of up to Rs. 4,500 crore, aggregating up to Rs. 5,000 crore (“Tranche I Issue”), which is within the shelf limit of Rs. 10,000 crore (“Issue”).

The HNI Category was the most subscribed with 8.99 times, followed by Non-Institutional Category with 3.58 times. Institutional Category was subscribed 2.50 times, whereas, Retail Category was subscribed 2.09 times. Issue opened on Friday, July 21, 2023 and was scheduled to close on Friday, July 28, 2023. The issue was early closed on July 26, 2023 by exercising option of early closure.