Power Finance Corp to launch maiden public bond sale for retail investors

PFC is planning to raise Rs 5,000 crore in the first tranche, proceeds to be used for funding projects in the renewable energy and transmission & distribution segment

Leading power sector lender Power Finance Corporation (PFC) will launch its maiden public bond sale for retail investors to raise Rs 5,000 crore. PFC will open its public issue of secured, redeemable Non-Convertible Debentures (NCD) on January 15, 2021.

The NCDs are of face value of Rs 1,000 each. The company in a statement said the base issue size is Rs 500 crore with an option to retain oversubscription of up to Rs 4,500 crore, aggregating up to Rs 5,000 crore, which is within the shelf limit of Rs 10,000 crore. Allotment would be on first come, first serve basis