[.]| Listing at BSE | Fri, Jul 21, 2023 - Wed, Jul 26, 2023
Power Finance Corp.Ltd. NCD issue is a public issue of secured, redeemable, non-convertible debenture , issued under a Shelf Prospectus of ₹5,000.00 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 Jul 21, 2023 and closes on Jul 26, 2023. 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 7.50% per annum to 7.55% per annum, depending on the series and tenure selected.
The NCD has been rated: .
JM Financial Ltd. is the Lead Manager to the issue, Beacon Trusteeship Ltd. is the Debenture Trustee, and Kfin Technologies Ltd. is the Registrar to the Issue.
Investors are advised to refer to the NCD Offer Document and Shelf Prospectus for detailed information on risk factors, financials, and the terms of the issue.
Open Date
Fri, Jul 21, 2023
Close Date
Wed, Jul 26, 2023
Issue Size (Overall)
[.]
Power Finance Corporation Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 |
|---|---|---|---|
| Frequency of Interest Payment | Annual | Annual | Annual |
| Nature | Secured | Secured | Secured |
| Tenor | 3 Years | 10 Years | 15 Years |
| Coupon (% per Annum) | 7.50% | 7.53% | 7.55% |
| Effective Yield (% per Annum) | 7.49% | 7.52% | 7.54% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus |
|---|---|---|---|---|---|
| 31-Mar-21 | 775,707.08 | 71,700.67 | 15,716.20 | 81,790.25 | 60,371.31 |
| 31-Mar-22 | 791,000.27 | 76,344.92 | 18,768.21 | 96,275.15 | 69,310.98 |
| 31-Mar-23 | 896,111.86 | 77,625.19 | 21,178.59 | 111,981.28 | 82,507.74 |
| Amount in ₹ Crore | |||||
The promoter of the company is the President of India acting through the Ministry of Power, Government of India.
| Category | Allocated (%) | Shares Reserved |
|---|---|---|
| Institutional | 10.00% | 5,00,000 |
| Non-Institutional | 10.00% | 5,00,000 |
| HNI | 40.00% | 20,00,000 |
| Retail | 40.00% | 20,00,000 |
| Total | 100.00% | 50,00,000 |
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 company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] Investors across the board are always eager for debt offers from fancy PSUs and PFC is one among them. The company is one of the leading power sector financings and servicing PSU with steady growth in its earnings. This debt issue has AAA/Stable ratings from CRISIL, CARE and ICRA. Investors looking for steady income may consider long-term fund parking. Read detail review...
The Power Finance Corporation NCD July 2023 was subscribed 5.84 times on Jul 26, 2023 13:00. The NCD subscribed 2.23 times in Retail, 9.24 times in HNI, 7.55 times in Non-Institutional, and 5.01 times in Institutional category.
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.
