New Delhi: State-owned NTPC on Wednesday said it has received bids amounting to Rs 1,495 crore for its taxable secured non-convertible debentures (NCDs) of Rs 500 crore.
To meet its capital expenditure requirements, NTPC invited bids for its series 63 of taxable secured non-convertible debentures on Wednesday, on the electronic bidding platform of Bombay Stock Exchange, the company said in a statement.
"Bids amounting to Rs 1,495 crore were received from 15 participants against issue size of Rs 500 crore with greenshoe option having bullet maturity of 10 years," the statement said.
The bid book was closed in 15 minutes flat with issue oversubscribed by 3 times, it added.
"A coupon of 7.47 per cent p.a. was achieved which was inside of Corporate 10-year 'AAA' yield curve by 11 bps and an amount of Rs 670 crore was allocated to successful bidder, it said, adding, "NTPC is rated 'AAA' by CRISIL and ICRA and the bond issue was also rated 'AAA'."
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