Service: Debt Public Issue

Pleased to announce the closure of INR 28,245 MN Public Issue of NCDs for Power Finance Corporation Ltd (PFC), this being our fourth public issue of NCDs for PFC.

Deal Details:

  • Tranche I Issue was subscribed 5.6490 times of the Base Issue Size and 0.5649 times of overall Issue size after considering the not banked cases and technical rejection cases
  • The Issue was focused for a longer as well as shorter investment horizon from 3 years to 15 years with yields ranging from 7.45% p.a. to 7.55% p.a.
  • ~64% of the amount of deal for total NCDs allotted was from Category III investors and ~15% of the amount of deal for total NCDs allotted was from Category IV investors and ~9% and ~13% of the amount of deal for total NCDs allotted was from Category I & Category II investors respectively.

Contribution:

  • As Lead Manager, Nuvama hand-held the Company with end-to-end execution, swift regulatory approvals and timely launch of the Issue and managed to garner participation from the investors
  • Nuvama garnered participation from a diverse investor set including Marquee FII and DII investors
  • Nuvama worked closely with the Bank through the entire QIP process including post issue activities to ensure smooth and successful closure

About:

  • Power Finance Corporation Limited, being an NBFC focused on power sector and Company plays a strategic role in the initiatives of the GoI for the development of the power sector in India
  • One of India’s leading public financial institution and a Schedule-A Maharatna Central Public Sector Enterprises (CPSE), focused on the power sector