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Power Finance Corporation NCD Dates, Size, Allotment, Subscription, RHP & more

Let’s have a detailed review of the company and analytics of the Power Finance Corporation NCD release date, PFCL NCD issue size, subscription, Power Finance Corporation NCD allotment and other details like the company’s background, its financial positions, its promoters and other related things.

Power Finance Corporation NCD – September 2019 Detail

Credit RatingCARE AAA/Stable, CRISIL AAA/Stable, ICRA AAA/Stable
Issue OpenNA
Issue CloseNA
Issue Size (Base)Rs [.] Crores
Issue Size (Shelf)Rs [.] Crores
Issue PriceRs 1000 per NCD
Face ValueRs 1000 each NCD
Minimum Lot size10 NCD
Market Lot1 NCD
Listing AtBSE, NSE
TenorNA
SeriesNA
Payment FrequencyNA
Basis of AllotmentFirst Come First Serve Basis

Power Finance Corporation NCD – Basis of the Offer Price

ISSUE STRUCTURE
Security NamePower Finance Corporation NCD
Security TypeSecured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Coupon payment frequencyNA
Coupon typeFixed
TenorNA
DepositoryNSDL and CDSL
DisbursementSEBI Debt Regulations
Debenture TrusteeBEACON TRUSTEESHIP LIMITED

Power Finance Corporation NCD Dates

The opening and the closing date of Power Finance Corporation or PFCL NCD is NA.


Power Finance Corporation NCD Subscription

Day / DateQIB Category 1NII Category 2HNI Category 3RII Category 4Total Subscription
1st – 10th Day: till 
10th – 20th Day: till
20th – 30th Day: till
Shares Offered or Net Issue

The shares subscribed by the public will be updated here.


Power Finance Corporation NCD Allotment Status

Here, you can find the Allotment Status of this NCD.


Power Finance Corporation Limited NCD Share Offering

Issue of 5,22,000 Equity Shares of face value of Rs.10/- each for cash at a price of Rs. [ ] per Equity Share (including a share premium of Rs.[ ] per Equity share) aggregating Rs. [ ] lakhs.

Power Finance Corporation Limited NCD Allocation Ratio

NCD Allocation Ratio
CategoryNCD’s Allocated
QIB – Category 10%
NII – Category 20%
HNI – Category 30%
RII – Category 40%

Power Finance Corporation NCD Offered

NCD’s Offered
CategoryNCD’s Reserved
QIB – Category 1NA
NII – Category 2NA
HNI – Category 3NA
RII – Category 4NA
Total NCD’sNA

Power Finance Corporation NCD Coupon Rates

SeriesIIIIIIIVVVIVIIVIIIIXX
Interest
type
Frequency
of Payment
Tenor
Coupon
Effective
Yield
Redemption amount
Put and call
option
NA
Redemption
Date
Minimum
Application
and in
multiples
thereafter
Rs. 10,000 (10 NCDs) collectively across all Series and in multiples of Rs.1,000 (1 NCD) thereafter across all Series
Face ValueRs. 1,000 (1 NCD)
Mode of PaymentThrough various options available

Power Finance Corporation NCD Issue Object

These are the NCD Issue Objects of 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); and;
  • General corporate purposes.

Power Finance Corporation Limited – Company Overview

POWER FINANCE CORPORATION LIMITED NCDPower Finance Corporation Limited (“Company” or “PFC”) was incorporated on July 16, 1986 under the Companies Act, 1956 as a public limited company, registered with the Registrar of Companies, National Territory of Delhi and Haryana (“RoC”), and received the certificate for commencement of business on December 31, 1987.

The Company plays a strategic role in the initiatives of the GoI for the development of the power sector in India and works with GoI agencies, state governments, power sector utilities, other power sector intermediaries and private sector clients for the development and implementation of policies and for structural and procedural reforms in the power sector in India. In addition, the Company is involved in various GoI programs relating to the power sector, including acting as the nodal agency for the UMPP program and the IPDS/R-APDRP (now subsumed under the IPDS).

The Company provides a comprehensive range of financial products and other services to the clients in the power sector, including:

  • services ranging from project conceptualization to the post-commissioning stage, including generation (conventional and renewable), transmission and distribution projects, and related renovation and modernization projects;
  • various forms of fund-based assistance, including long-term project finance, short-term loans, buyers’ lines of credit, underwriting of debt and debt refinancing schemes; and
  • various forms of non-fund based assistance including default payment guarantees, credit enhancement guarantees and letters of comfort.

The primary sources of funds include equity capital, internal resources, and domestic and foreign currency borrowings. Domestic credit rating agencies have given the Company the following ratings, in relation to the borrowing programmes –

  • CRISIL (a subsidiary of S&P) has granted them (a)“CRISIL AAA/Stable” rating in relation to the long term borrowing programme, for a limit of ₹ 56,000 crore, and (b)“CRISIL A1+” rating in relation to the short term borrowing programme, for a limit of ₹ 25,000 crore,
  • ICRA has granted them (a) “[ICRA]AAA(Stable)” rating in relation to the long term borrowing programme, for a limit of ₹ 56,000 crore, and (b) “[ICRA]A1+” rating for the short term borrowing programme, for a limit of ₹ 25,000 crore, and
  • CARE has granted them (a) “CARE AAA; Stable” rating in relation to the long term borrowing programme, for a limit of ₹ 56,000 crore, and (b) “CARE A1+” rating in relation to the short term borrowing programme, for a limit of ₹ 7,000 crore. International credit rating agencies Moody’s, Fitch and Standard & Poor’s (S&P) have granted the Company, the following ratings – (i) Moody’s has granted them an issuer rating of “Baa3”, (ii) Fitch has granted them long-term issuer default rating of “BBB-/ Stable” and (iii) Standard & Poor’s (S&P) has granted long-term issuer credit rating “BBB-/ Stable”.

Power Finance Corporation NCD Lead Managers

Lead Managers
TRUST INVESTMENT ADVISORS PRIVATE LIMITED

A. K. CAPITAL SERVICES LIMITED

EDELWEISS FINANCIAL SERVICES LIMITED

ICICI BANK LIMITED

JM FINANCIAL LIMITED

SBI CAPITAL MARKETS LIMITED


Power Finance Corporation NCD Debenture Trustee

Debenture Trustee
BEACON TRUSTEESHIP LIMITED
4 C&D, Siddhivinayak Chambers, opp. MIG Cricket Club
Bandra (East), Mumbai 400 051
Telephone: +91 22 2655 8759
Email: [email protected]
Investor Grievance Email: [email protected]
Website: www.beacontrustee.co.in
Contact Person: Ms. Vaishali Urkude
SEBI Registration No.: IND000000569

Power Finance Corporation NCD Registrar to offer

Registrar to the Offer
KARVY FINTECH PRIVATE LIMITED

(FORMERLY KNOWN AS KCPL ADVISORY SERVICES
PRIVATE LIMITED)
Karvy Selenium Tower B, Plot No – 31 & 32, Financial District, Nanakramguda, Serilingampally
Hyderabad Rangareddy, Telangana 500 032
Telephone: +91 40 6716 2222
Facsimile: +91 40 2343 1551
Email: [email protected]
Investor Grievance Email: [email protected]
Website: www.karvyfintech.com
Contact Person: Mr. M. Murali Krishna
SEBI Registration No.: INR000000221


Power Finance Corporation NCD Ratings

The NCDs proposed to be issued under the Issue have been rated ‘CARE AAA; Stable’ by CARE Ratings Limited (“CARE”); ‘CRISIL AAA / Stable’ by CRISIL Limited (“CRISIL”); and ‘[ICRA]AAA(Stable)’ by ICRA Limited (“ICRA”), for an amount of up to Rs. 56,000 crore vide their letters dated September 17, 2019, September 16, 2019, and September 13, 2019, respectively.

Instruments with these ratings are considered to have the highest degree of safety regarding timely servicing of financial obligations and such instruments carry lowest credit risk. The ratings provided by CARE, ICRA and CRISIL may be suspended, withdrawn or revised at any time by the assigning rating agency and should be evaluated independently of any other rating. These ratings are not a recommendation to buy, sell or hold the NCDs and investors should take their own decisions.


Power Finance Corporation NCD News

News 1 – Download DRHP Prospectus


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