NEW DELHI – India’s largest power producer NTPC has listed its USD 6 billion (about Rs 40,000 crore) MTN programme (debt instrument) on India International Exchange at IFSC, GIFT City (India INX). While doing so, NTPC became India’s first quasi-sovereign company to list at India INX. The Listing was done on 24th January 2018 on the Global Securities Market of India INX; India’s first international exchange.
The listing will help NTPC raise funds at lower costs from international investors and also allow foreign investors to access good quality Indian debt paper.
This is NTPC’s first listing at India International Exchange and we are very happy to be part of India INX at IFSC, GIFT City. Now, for the first time in India, we have the opportunity to reach out to international investors to raise funds using a wide variety of products and currencies, in a similar manner, as available in other international markets. We are excited with this new development and look forward to partnering with India INX in years to come,” said Mr. Gurdeep Singh, Chairman and Managing Director, NTPC Ltd.
Mr. V. Balasubramaniam, MD & CEO at India INX, extended a warm welcome to NTPC’s MTN programme on the GSM Platform.
As an exchange, our endeavour is to offer a transparent, robust, cost effective and efficient capital-raising platform to both global investors as well as Indian issuers. We treasure and value this partnership with NTPC,” Mr. Balasubramaniam added.
About India International Exchange, IFSC, GIFT City:
India International Exchange (India INX) was inaugurated by Prime Minister Narendra Modi in January 2017, setting forth a vision that the International Exchange at GIFT should become a listing destination for issuers from India and the region. It is one of the world’s most advanced technology platforms with a turn-around time of 4 micro seconds and operates for 22 hours a day to allow international investors and Non Residents Indians to trade from anywhere across the globe.
The exchange being located in IFSC, GIFT City, provides competitive advantage in terms of tax structure and supportive regulatory framework. The Global Securities Market (GSM) of India INX went live on 8 Dec, 2017 with publication of its debt listing framework by India INX.