State-run NTPC has received bids amounting to Rs 1,250 crore for its taxable secured non-convertible debentures issue of Rs 500 crore.
"NTPC Ltd invited bids for its 62nd series of taxable secured non-convertible debentures today with bullet repayment after 10 years. Bids amounting to Rs 1,250 crore were received against issue size of Rs 500 crore," the company stated.
According to the statement, after creating pricing tension, coupon of 7.58 per cent per annum was achieved which was inside of corporate 10-year 'AAA' yield curve by 12 basis points and an amount of Rs 800 crore was allocated to successful bidders.
The bidding was conducted on the Electronic Bidding Platform of National Stock Exchange under the guidelines issued by Sebi for adopting electronic book mechanism for issuance of debt securities on private placement basis.
The proceeds of the issue will be utilized for capital expenditure. NTPC is rated 'AAA' by CRISIL, CARE and ICRA. The bond issue was also rated 'AAA', it added.
