THDC India's Strategic Non-Convertible Debenture Issuance of Rs 600 Crore
THDC India has successfully raised Rs 600 crore via non-convertible debentures on July 18. The funds aim to support ongoing and planned projects, improving the company's financial health. The issuance comprises a Rs 200 crore base and a Rs 400 crore green shoe option, with debt listed on BSE and NSE.
- Country:
- India
State-owned THDC India has successfully mobilized Rs 600 crore through the issuance of non-convertible debentures via private placement on July 18, according to an official statement. The debentures come with a 7.45 percent coupon rate and are set to mature over a 10-year period.
The raised capital will be directed toward partially covering the debt requirements for ongoing and upcoming projects, as well as reimbursing previous expenditures and refinancing existing loans. This strategic financial maneuver supports THDC India's ongoing expansion into diverse energy portfolios.
According to Sipan Kumar Garg, Director (Finance) and CFO, the bond issue featured a base size of Rs 200 crore and an additional Rs 400 crore green shoe option, aggregating a total of Rs 600 crore. THDC India is further solidifying its position in the corporate debt market, having already issued 13 series of bonds and raised Rs 10,442 crore in total. The current debt securities are set to be listed on the Wholesale Debt Market (WDM) Segment of both BSE and NSE by July 23.
(With inputs from agencies.)
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