THDC India Limited has successfully raised Rs 763 Crore through the issuance of THDCIL Corporate Bonds Series -VIII. The bonds received overwhelming interest from investors, resulting in an impressive oversubscription of 9 times the base issue size, amounting to Rs 2588 Crore. THDCIL Corporate Bonds Series -VIII, with a base size of Rs 300 Crore and a green shoe option of Rs 500 Crore, achieved a total issue size of Rs 800 Crore, with a tenor of 10 years.
The funds raised through this issue will be utilized to partially meet the debt requirements of THDC India Limited’s ongoing and under-construction projects as the company continues to expand its operations. This achievement highlights the confidence of investors in THDC India Limited’s financial stability and operational performance. The competitive coupon rate of 7.76% discovered through BSE–Electronic Bidding Platform further reinforces the trust placed in THDCIL Corporate Bonds. These bonds have received a credit rating of AA “Stable” from both CARE and India Ratings, highlighting the strong creditworthiness of the company.
The bidding for this successful bond issue took place on September 11, 2023, at THDCIL’s Corporate Office in Rishikesh. The event was attended by senior officials of the company, including Shri J. Behera, Director (Finance) and CFO, Shri A.B. Goel, ED (Finance), Shri A.K. Garg, GM (Finance), Ms. Rashmi Sharma, Company Secretary, and Ms. Hemlata Agarwal, BSE Head Northern Region, Listing.
THDC India Limited is a Category-1 Mini Ratna Class–A Central Public Sector Undertaking (CPSU) with a nationwide presence in Hydro Power Generation and Renewable Energy. The company currently operates 1587 MW of energy capacity, including Hydro, Wind, and Solar power, with an additional 1444 MW in hydro capacity and 1320 MW in thermal power under advanced development stages. To date, THDCIL has issued a total of 8 series of Bonds and has successfully raised funds amounting to Rs. 7013 Crore from the corporate debt market. All of these bond issues have received overwhelming responses from investors, and servicing all series of bonds is running smoothly and on time. Shri J. Behera, Director (Finance), expressed his gratitude to investors for their unwavering trust in the company’s operational and financial performance, as well as its future growth prospects. Shri R. K. Vishnoi, Chairman and Managing Director, THDCIL, extended heartiest congratulations to the entire THDCIL team and emphasized that this remarkable achievement in raising funds through THDCIL Corporate Bonds Series -VIII reflects the company’s unwavering commitment to the National Objective of providing 24×7 affordable power to all.
