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NTPC raises Rs 4,000 cr via bonds

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New Delhi: State-owned power giant NTPC on Friday said it has raised Rs 4,000 crore via bonds issued through private placement basis.

Bidding for the bond issue opened Friday and it received an overwhelming response, the company said in a statement.

Against an issue size of Rs 500 crore, with green shoe option to retain over-subscription up to Rs 3,500 crore, bids of Rs 12,520 crore were received, it said.

“The NTPC’s series 67 Bond Issue through private placement, for which bidding took place today, has received overwhelming response from the investors,” the statement said.

The issue generated lot of interest among investors, thereby pulling down the yield for 10-year bonds to attractive levels of 8.30 per cent annualised.

The company said in the first 10 minutes of opening of the issue itself, subscription for the entire offering of Rs 4,000 crore was received.

The bonds shall be listed on NSE and BSE, it added.

Source: Economic Times