Business Standard

NTPC closes Rs 500-cr bond issue on day one

Image

Press Trust Of India New Delhi

State-run power producer NTPC closed its bond issue on the first day itself as the Rs 500-crore issue was subscribed six times the size of the offer. An official statement on Tuesday said, “Against an issue size of Rs 500 crore, the investment commitments of over Rs 3,000 crore were received and the company decided to close it on the first day of the issue.”

It further stated that early in the day the company received the subscription amount of Rs 1,000 crore. Therefore, the company used a green-shoe option to retain an additional amount of Rs 500 crore.

The bonds will be listed on the Wholesale Debt Market Segment of the National Stock Exchange shortly, the statement added.

 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Nov 12 2008 | 12:00 AM IST

Explore News