Power Finance Corporation Limited NCD (Power Finance Corp NCD January 2021) Detail

Jan 15, 2021 - Jan 18, 2021

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:



  • 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;

  • Various forms of non-fund based assistance including default payment guarantees, credit enhancement guarantees, and letters of comfort; and

  • Various fee-based technical advisory and consultancy services for power sector projects through our wholly-owned subsidiary PFC Consulting Limited.

Power Finance Corp NCD January 2021 Detail

Issue OpenJan 15, 2021 - Jan 18, 2021
Security NamePower Finance Corporation Limited
Security TypeSecured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base)Rs 500.00 Crores
Issue Size (Shelf)Rs 4,500.00 Crores
Issue PriceRs 1000 per NCD
Face ValueRs 1000 each NCD
Minimum Lot size10 NCD
Market Lot1 NCD
Listing AtBSE
Credit Rating‘CARE AAA; Stable’ by CARE; ‘CRISIL AAA / Stable’ by CRISIL; and ‘[ICRA]AAA(Stable)’ by ICRA.
Tenor3. 5, 10 and 15 years
Series
Payment Frequency
Basis of AllotmentFirst Come First Serve Basis

NCD Allocation Ratio

NCD's allocated in each investor category:

Category ?NCD's Allocated
Category 1 (QIB)10%
Category 2 (NII)10%
Category 3 (HNI)40%
Category 4 (RII)40%

NCD's Offered

NCD's offered in each investor category:

Category ?NCD's Reserved
Category 1 (QIB)500,000
Category 2 (NII)500,000
Category 3 (HNI)2,000,000
Category 4 (RII)2,000,000
Total NCD's5,000,000

Coupon Rates

Power Finance Corporation NCD Coupon Rates

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

Company Promoters

The President of India, acting through and represented by Ministry of Power, Government of India.

Objects of the Issue:

The objects of the issue are:



  1. For the purpose of onward lending, financing / refinancing the existing indebtedness of our Company, and/or debt servicing (payment of interest and/or repayment / prepayment of interest and principal of existing borrowings); and;

  2. General corporate purposes.

Power Finance Corp NCD January 2021 Prospectus

Power Finance Corp NCD January 2021 Rating

15
3.6
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Power Finance Corp NCD January 2021 Reviews

Company Contact Information

Power Finance Corporation Limited
Urjanidhi, 1, Barakhamba Lane,
Connaught Place,
New Delhi 110 001

Phone: +91 11 2345 6000
Email: publicissue20@pfcindia.com
Website: https://www.pfcindia.com/

Power Finance Corp NCD January 2021 Registrar

KFintech Private Limited
   Selenium Building, Tower-B, Plot No 31 & 32,
   Financial District,Nanakramguda, Serilingampally,
   Rangareddi, Telangana India - 500 032.

Phone: 1-800-3454001
Email: pfc.ncd2020@kfintech.com
Website: https://karisma.kfintech.com/

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5 Comments

Yogesh Anand
5. Yogesh Anand  Jan 14, 2021 09:51 I Like It. | Report Abuse Reply 0
How to apply for PFC bond issue through zerodha?
Akash, Bombay
5.2. Akash, Bombay  Jan 15, 2021 15:58 I Like It. | Report Abuse 0
However, you can apply through Edelweiss.in which is the lead manager for issue. Use your zerodha demat details and apply. Bonds will turn up in your zerodha account when alloted.
Scrip
5.3. Scrip  Jan 15, 2021 21:27 I Like It. | Report Abuse 0
Axis and HDFC bank allow to apply for debt ipo through their net banking.
So if u have any one of them u can try it.
MRK RAJU
4. MRK RAJU  Jan 15, 2021 07:46 I Like It. | Report Abuse Reply 0
The interest rates are less than Post Office interest rates. Why anyone should subscribe?
Akash, Bombay
4.1. Akash, Bombay  Jan 15, 2021 15:41 I Like It. | Report Abuse 0
Because post office rate changes every quarter and chances are will go down over a period of time. With this you get same rate for 10-15 years period.
Network Engineer
3. Network Engineer  Jan 14, 2021 17:32 I Like It. | Report Abuse Reply 0
Interest rate is lesser than FD. why we should go with NCD?
Default Investor
3.2. Default Investor  Jan 14, 2021 21:11 I Like It. 1 | Report Abuse 0
These are taxable bonds...

Akash, Bombay
3.3. Akash, Bombay  Jan 15, 2021 15:40 I Like It. | Report Abuse 0
Hardly any good bank is offering 7% rate on FD. Beside you can lock this rate for 15 years with these NCDs
Yogesh Anand
2. Yogesh Anand  Jan 14, 2021 09:50 I Like It. | Report Abuse Reply 0
How to apply for PFC bond issue through zerodha account?
arunARUN
1. arunARUN  Jan 14, 2021 01:51 I Like It. | Report Abuse Reply 0
10 years bond look good option for retail investors. Now one can invest with UPI in debt upto Rs 2 lakh value








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