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| Issue Size (Base) | ₹500.00 Cr |
| Issue Size (Shelf) | ₹5000.00 Cr |
| Face Value | ₹1000 each NCD |
| Issue Price | ₹1000 per NCD |
| Market Lot | 1 NCD |
| Min Order Qty | 10 NCD |
| Min Order Amount | ₹10000 |
| Listing at | BSE |
| Tenor | 3, 10, and 15 years |
| Credit Rating | CARE AAA, Stable by CARE Ratings Limited, CRISIL AAA/Stable by CRISIL Limited and ICRA AAA, Stable by ICRA Limited |
| Series | Series I to III |
| Payment Frequency | Annually |
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus |
|---|---|---|---|---|---|
| 31-Mar-21 | 775,707.08 | 71,700.67 | 15,716.20 | 81,790.25 | 60,371.31 |
| 31-Mar-22 | 791,000.27 | 76,344.92 | 18,768.21 | 96,275.15 | 69,310.98 |
| 31-Mar-23 | 896,111.86 | 77,625.19 | 21,178.59 | 111,981.28 | 82,507.74 |
| Amount in ₹ Crore | |||||
The promoter of the company is the President of India acting through the Ministry of Power, Government of India.
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
| # | Issue Objects |
|---|---|
| 1 | For the purpose of onward lending, financing / refinancing the existing indebtedness of the company, and/or debt servicing (payment of interest and/or repayment/prepayment of interest and principal of existing borrowings of the company), and |
| 2 | General corporate purposes. |
| Series 1 | Series 2 | Series 3 | |
|---|---|---|---|
| Frequency of Interest Payment | Annual | Annual | Annual |
| Nature | Secured | Secured | Secured |
| Tenor | 3 Years | 10 Years | 15 Years |
| Coupon (% per Annum) | 7.50% | 7.53% | 7.55% |
| Effective Yield (% per Annum) | 7.49% | 7.52% | 7.54% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
The NCDs proposed to be issued under the issue have been rated "CARE AAA, Stable" by CARE Ratings Limited, "CRISIL AAA/Stable" by CRISIL Limited, and "ICRA AAA, Stable" by ICRA Limited.
Power Finance Corporation Limited was established in 1986. The company is one of India's leading public financial institutions and a Schedule-A Maharatna Central Public Sector Enterprises (CPSE) focused on the power sector. The company plays a strategic role in the Government of India's power sector development initiatives in India and works with Government of India agencies, state governments, power utilities, other power sector intermediaries, and private sector clients to promote policy development and implementation, and structural and procedural reforms in the Indian power sector.
The company's portfolio includes financial products and services such as rupee loans, short-term loans and equipment lease financing, transitional financing, etc. for various power projects in the generation, transmission and distribution sectors. In recent years, this company's focus areas have been strategically expanded to include projects that provide forward and backward linkages to core power sector projects, including procurement of capital equipment for the power sector, fuel sources for power generation projects, and related infrastructure development. the company also finances power trading initiatives.
In addition, the Company is involved in various Government of India programs in the power sector, including as a nodal agency for Revamped Distribution Sector Scheme (RDSS), Ultra Mega Power Projects (UMPPs), Integrated Power Development Scheme (IPDS), Coordinator of Bidding Process for Independent Transmission Projects (ITPs), DISCOM Liquidity Package under Atmanirbhar Bharat and Late Payment Surcharge (LPS) Rules, 2022. Going forward, the Company aims to contribute to the Government's renewable and clean energy efforts. The company has focused its activities to take advantage of emerging opportunities in the electric mobility sector and build trust in the transmission and distribution (T&D) sector. It recently modified its website, MOU, to enable lending in the infrastructure and logistics sectors.
