In order to meet its capital expenditure and other corporate requirements, NTPC Ltd., had invited bids for its series 65 of Taxable Secured Non Convertible Debentures on Electronic Bidding Platform of Bombay Stock Exchange on 22.11.2016.
Bid book was oversubscribed by 2.8 times. Bids amounting to Rs. 1400 crore were received from 14 participants against issue size of Rs. 500 crore with green shoe option having bullet maturity of 5 years.
A coupon of 6.72% p.a. was achieved which was inside of Corporate 5-year “AAA” yield curve by 11 bps and an amount of Rs. 700 crore was allocated to successful bidders. These bonds were allotted today.
NTPC is rated “AAA” by CRISIL, ICRA and CARE and the bond issue was also rated “AAA”.