According to market sources, Power Finance Corporations wants to raise up to Rs 3,500 crore through bonds due in 10 years, or on November 30, 2033. The base issue size is Rs 600 crore, with an option to retain up to Rs 2,900 crore in oversubscription, for a total of Rs 3,500 crore.
Bidding for these bonds will take place on the BSE's electronic bidding platform on November 28 between 10:30 AM and 11:30 AM. The bonds' maturity date is November 30.
The pay-in date is the date on which bonds and money are exchanged between issuers and investors. CRISIL, ICRA, and CARE all assigned these bonds a 'AAA' rating. Meanwhile, on November 24, Canara Bank, Shriram Housing Finance, DMI Finance Pvt Ltd, Keertana Finserv Pvt Ltd, and Tata Capital Financial Services Ltd would issue bonds.
The total amount of these bonds is Rs 8,750 crore, with Canara Bank issuing Rs 5,000 crore bonds and Tata Capital Financial Services Ltd issuing Rs 3,000 crore bonds. Satin Creditcare Network, Ecap Equities, Rural Electrification Corporation, and Gera Developments Pvt Ltd issued bonds on November 23.
Satin Creditcare Network raised Rs 35 crore from bonds that mature in less than two years. REC raised Rs 2899.69 crore with 10-year notes yielding 7.71 percent, and Rs 1679 crore through 2-year bonds yielding 7.80 percent.
