Home Uttarakhand THDCIL raises Rs 600 Cr from debt market

THDCIL raises Rs 600 Cr from debt market



Rishikesh, 26 Dec: THDCIL has successfully raised funds through issue of Unsecured Bonds Series -VII with a base size of Rs 200 Cr with green shoe option of Rs 400 Cr with total issue size amounting to Rs 600 Cr having tenure of 10 years. The issue proceeds will be utilised to partly meet debt requirement of ongoing and under construction projects of the company as it is in its expansion phase.

The coupon rate discovered through BSE– Electronic Bidding Platform is 7.88% for Rs 600 Cr. Credit rating of AA “Stable” was assigned to these bonds by CARE and India ratings.  The bidding was a grand success with over-subscription of about 10 times of Base issue size in just one hour. The company received bids for Rs 2059.50 Cr against total issue size of Rs 600 Cr from various Investors and Arrangers. The rate discovered for an unsecured bonds issue is very competitive and it shows confidence amongst investors in THDCIL Bonds.

The bidding for the above issue was done through BSE’s EBP Platform, on 23 December at THDCIL’s Corporate Office at Rishikesh in the presence of J Behera, Director (Finance) and CFO, AB Goel, CGM (Finance), AK Garg , AGM (Finance), Rashmi Sharma, Company Secretary and Hemlata Agarwal, BSE, Head Northern Region, Listing Sales.

THDCIL successfully has made its presence felt not only in Hydro Power Generation but also in Renewable Energy with nationwide presence. In recognition, today, THDCIL is a category-1 Mini Ratna Class – A CPSU. 1587 MW consisting of Hydro, Wind and Solar power is in operation, 1444 MW hydro capacity and 1320 MW in Thermal under the advanced stage of development.

So far, THDCIL has issued 7 series of Bonds and has raised funds amounting to Rs 6250 Cr from the corporate debt market. All the issues of the company were oversubscribed and received overwhelming response from Iinvestors. The servicing of all series of bonds is running smoothly and on time.

Director Behera thanked investors for reposing trust in the company’s Operational and Financial performance and future growth prospects.