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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:
| Issue Open | January 15, 2021 - January 18, 2021 |
| Security Name | Power Finance Corporation Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 500.00 Crores |
| Issue Size (Shelf) | Rs 4,500.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | ‘CARE AAA; Stable’ by CARE; ‘CRISIL AAA / Stable’ by CRISIL; and ‘[ICRA]AAA(Stable)’ by ICRA. |
| Tenor | 3. 5, 10 and 15 years |
| Series | |
| Payment Frequency | |
| Basis of Allotment | First Come First Serve Basis |
Category  |
NCD's Allocated |
|---|---|
| Category 1 | 10% |
| Category 2 | 10% |
| Category 3 | 40% |
| Category 4 | 40% |
| Category |
NCD's Reserved |
|---|---|
| Category 1 | 500,000 |
| Category 2 | 500,000 |
| Category 3 | 2,000,000 |
| Category 4 | 2,000,000 |
| Total NCD's | 5,000,000 |
| 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.
The objects of the issue are:
The Power Finance Corp NCD January 2021 was subscribed 8.96 times on January 18, 2021 5:00:00 AM. The NCD subscribed .
| Category ? | Subscription (times) |
|---|---|
| Category 4 | 2.51x |
| Category 3 | 19.23x |
| Category 2 (NII) | 2.27x |
| Category 1 (QIB) | 0.33x |
| Total | 8.96x |
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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/
Kfin Technologies Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India - 500 032.
Phone: 04067162222, 04079611000
Email: pfc.ncd2020@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
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