NTPC's series 63 bond issue gets oversubscribed by 3 times

This bidding was done through electronic bidding platform on BSE, and the amount raised is expected to meet NTPC's capital expenditure requirement.

The bid book was closed in 15 minutes flat with issue getting oversubscribed by 3 times. Photo: Pixabay

NTPC - India's largest energy conglomerate, today invited bids for its series 63 of taxable secured non convertible debentures on Indian stock market.

This bidding was done through electronic bidding platform on BSE, and the amount raised is expected to meet NTPC's capital expenditure requirement.

The bid book was closed in 15 minutes flat with issue getting oversubscribed by 3 times.

Amount of Rs 670 crore was allocated to successful bidder.

It said in a statement, "Bids amounting to Rs 1495 crore were received from 15 participants against issue size of Rs 500 crore with green shoe option having bullet maturity of 10 years."

In the bid a coupon of 7.47% per annum was achieved which was inside of Corporate 10-year “AAA” yield curve by 11 basis points.

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