[.]| Listing at BSE | Fri, Jan 15, 2021 - Mon, Jan 18, 2021
Power Finance Corp.Ltd. NCD issue is a public issue of secured, redeemable, non-convertible debenture , issued under a Shelf Prospectus of ₹4,500.00 Cr with a base issue size of ₹500.00 Cr and an option to retain oversubscription up to ₹[.] Cr, aggregating to a tranch issue size of ₹[.] Cr. The NCDs are offered at a face value ₹1000 each and an issue price of ₹1000 per NCD.
Power Finance Corp.Ltd. NCD issue opens on Jan 15, 2021 and closes on Jan 18, 2021. NCD are proposed to be listed on BSE.
The minimum lot size is 10 NCDs, requiring a minimum investment of ₹ 10,000 , while the market lot for trading is 1 NCD.
The issue offers interest rates ranging from per annum to per annum, depending on the series and tenure selected.
The NCD has been rated: .
A.K.Capital Services Ltd. is the Lead Manager to the issue, is the Debenture Trustee, and Kfin Technologies Ltd. is the Registrar to the Issue.
Investors are advised to refer to the NCD Offer Document for detailed information on risk factors, financials, and the terms of the issue.
Open Date
Fri, Jan 15, 2021
Close Date
Mon, Jan 18, 2021
Issue Size (Overall)
[.]
| Tenure | 3 Years | 5 Years | 10 Years | 10 Years | 10 Years | 15 Years | 15 Years |
|---|---|---|---|---|---|---|---|
| Nature | Secured | ||||||
| Series | I | II | III | IV | V | VI | VII |
| Frequency of Interest Payment | Annual | Annual | Quarterly | Annual | Annual | Quarterly | Annual |
| Minimum Application | 10 NCDs (₹10,000) (across all options of NCDs) | ||||||
| In multiples, of | 1 NCD after the minimum application | ||||||
| Face Value of NCDs (₹/NCD) | ₹1,000 | ||||||
| Issue Price (₹/NCD) | ₹1,000 | ||||||
| Coupon for Category I and II | 4.65% | 5.65% | 6.63% | 6.80% | Benchmark FIMMDA 10Yr G-Sec (Annualised) + 55 BPS |
6.78% | 6.95% |
| Coupon for Category III and IV | 4.80% | 5.80% | 6.82% | 7.00% | Benchmark FIMMDA 10Yr G-Sec (Annualised) + 80 BPS |
6.97% | 7.15% |
| Redemption Amount (Rs/NCD) | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 |
| Redemption Date | 3 Years | 5 Years | 10 Years | 10 Years | 10 Years | 15 Years | 15 Years |
| Effective Yield (% per annum) for Category I and II | 4.65% | 5.65% | 6.79% | 6.80% | - | 6.95% | 6.95% |
| Effective Yield (% per annum) for Category III and IV | 4.80% | 5.80% | 6.99% | 7.00% | - | 7.15% | 7.15% |
| Put and Call Option | Not Applicable | ||||||
The President of India, acting through and represented by Ministry of Power, Government of India.
Incorporate in 1986, Power Finance Corporation Limited (PFC) is one of the leading financial institutions in India. It is focused on the power sector. PFC works with Government of India (GoI) agencies, state governments, power sector utilities, other power sector intermediaries, and private sector clients for the development and implementation of policies and structural and procedural reforms in the power sector in India.
PFC is registered with the RBI as a non-deposit taking systemically important NBFC. PFC was granted the 'Navratna' status by the GoI in 2007.
PFC provides a range of financial products and other services including:
The objects of the issue are:
[Dilip Davda] Well, there is a debate in the market about the interest rate of this PSU with AAA rating as recent NCD issue from Edelweiss Financial Services Ltd. with similar rating offered lucrative coupon rates ranging from 9.35% to 9.95%. Based on status of the corporate and the recent bond rates, this offer from PFC may be considered for investment by investors looking at safe and steady returns for medium to long term. (Subscribe). Read detail review...
Power Finance Corp.Ltd.
Urjanidhi, 1, Barakhamba Lane,
Connaught Place,
New Delhi 110 001
New Delhi, New Delhi, 110001
NSE and BSE offer NSEgoBid and BSEDirect apps/websites through which retail investors can apply for NCDs up to Rs 5 lakhs. Not all brokers and banks provide the facility to apply for NCD online.
To apply for an NCD online, the investor should fill in the NCD bid details online and provide the details of the DP and bank accounts (ASBA/UPI) as requested. In the case of a UPI application, the investor needs to approve the UPI mandate to complete the application process.
Steps to invest in NCD IPO through GoldenPi
Retail investors can apply for an IPO online if the investment amount is less than or up to 10 lakhs.
Steps to apply for NCD IPO with Indiabonds:
You can buy or invest in NCD IPOs through the following intermediaries:
The investor can apply for the NCD IPO online through NCD intermediaries such as a registered stockbroker, provided the broker offers an online application for the NCD IPO. Not many brokers allow you to invest in an NCD IPO online. Currently, very few brokers, such as Nuvama Wealth, Angel One, and SBI Securities, offer the facility to apply for NCD IPOs electronically. You should check with your broker or intermediary to see if the online application facility for the NCD IPO is available through them.
Refer to the detailed guidelines on NSEgoBID and BSEDirect for information on the registration process and how to apply for NCDs through the exchange.
Important links :
Read more about NCD Application Process.
The minimum amount required for NCD investment is Rs. 10,000.
Generally, the minimum lot size of NCD is 10, and the face value is 1,000.
NCD allotment can be checked on the BSE website or with the Registrar once the allotment has been made.
Steps to check the NCD allotment status at the BSE:
Alternatively, the applicant can also check the allotment status on the respective website of the Registrar for the issue. The applicant will need their PAN details or the applicant's Aadhaar number to check the status.
Generally, all applicants receive full allotment due to the retention of the oversubscription option.
Read more information on NCD Subscription and NCD Allotment Process.
No, you cannot withdraw or redeem Power Finance Corp.Ltd. NCDs before maturity directly from the company. However, there are a couple of options available if you want to exit early:
If the NCDs are listed on stock exchanges (like BSE/NSE), you can:
Only possible if a "call option" exists.
Read more about NCD Subscription and Allotment Process
Bid Cancellation and Withdrawal Policy for NCD Applicants
Note:
The specific process and conditions for post-closure cancellation vary by issuer. Applicants should refer to the Offer Document for issuer-specific guidelines.
