PFC
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India New Issue-PFC to issue multiple-tenor bonds, bankers say
MUMBAI, May 15 (Reuters) - India's Power Finance Corp (PFC) PWFC.NS plans to raise 50 billion rupees (about $584 million), which includes a greenshoe option of 40 billion rupees, through the sale of bonds of two different tenors, three bankers said on Thursday.
The bonds mature in three years, one month and 23 days and in five years, one month and 23 days, the bankers said.
The state-run company has invited coupon and commitment bids for the issue on Wednesday, they said.
PFC did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on May 16:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 5 years and 1 month and 23 days | To be decided | 25 | May 20 | AAA( Crisil, Icra) |
PFC | 3 years 1 month and 23 days | To be decided | 25 | May 20 | AAA( Crisil, Icra) |
Sundaram Finance | 3 years | 7.1584 (yield) | 12 | May 15 | AAA(Crisil) |
IRFC | 5 years | To be decided | 30 | May 16 | AAA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 85.6150 Indian rupees)
(Reporting by Khushi Malhotra; Editing by Savio D'Souza)
MUMBAI, May 15 (Reuters) - India's Power Finance Corp (PFC) PWFC.NS plans to raise 50 billion rupees (about $584 million), which includes a greenshoe option of 40 billion rupees, through the sale of bonds of two different tenors, three bankers said on Thursday.
The bonds mature in three years, one month and 23 days and in five years, one month and 23 days, the bankers said.
The state-run company has invited coupon and commitment bids for the issue on Wednesday, they said.
PFC did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on May 16:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 5 years and 1 month and 23 days | To be decided | 25 | May 20 | AAA( Crisil, Icra) |
PFC | 3 years 1 month and 23 days | To be decided | 25 | May 20 | AAA( Crisil, Icra) |
Sundaram Finance | 3 years | 7.1584 (yield) | 12 | May 15 | AAA(Crisil) |
IRFC | 5 years | To be decided | 30 | May 16 | AAA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 85.6150 Indian rupees)
(Reporting by Khushi Malhotra; Editing by Savio D'Souza)
India's Power Finance Corp falls on Gensol loan repayment disclosure
April 23 - ** Shares of state owned Power Finance Corp PWFC.NS down 2.78% to 426 rupees
** The non-banking lender says it loaned 3.52 billion rupees ($41 million) to Gensol Engineering GENO.NS in 2023 and has only received 450 million rupees as of April 18
** PWFC files complaint against Gensol with the economic offenses wing for falsifying documents
** India's markets regulator has taken a slew of actions against Gensol and its founders for allegedly defaulting on debt and diverting funds raised for business towards personal luxury purchases
** With session's decline, PWFC trims 12-month gain to 7%
(Reporting by Ananta Agarwal in Bengaluru)
April 23 - ** Shares of state owned Power Finance Corp PWFC.NS down 2.78% to 426 rupees
** The non-banking lender says it loaned 3.52 billion rupees ($41 million) to Gensol Engineering GENO.NS in 2023 and has only received 450 million rupees as of April 18
** PWFC files complaint against Gensol with the economic offenses wing for falsifying documents
** India's markets regulator has taken a slew of actions against Gensol and its founders for allegedly defaulting on debt and diverting funds raised for business towards personal luxury purchases
** With session's decline, PWFC trims 12-month gain to 7%
(Reporting by Ananta Agarwal in Bengaluru)
Indian state-run firms seek government nod to issue deep-discount, long-tenor debt
Updates throughout
By Khushi Malhotra and Dharamraj Dhutia
MUMBAI, April 22 (Reuters) - At least six Indian state-run companies have sought government approval to issue deep-discount bonds, opting for a rarely used corporate bond structure to raise relatively cheaper funds, four sources aware of the matter said on Tuesday.
These companies are Indian Railway Finance Corp (IRFC) INID.NS, Indian Renewable Energy Development Agency (IREDA) INAR.NS, Power Grid Corp of India (PGC) PGRD.NS, REC RECM.NS, SIDBI and NABARD, the sources said.
REC has yet again sought permission to issue these bonds, after having raised 50 billion rupees ($587 million) similarly in September, when aggressive bids led to lower-than-expected yields.
REC confirmed the development but none of the other firms replied to Reuters emails seeking comment.
Deep-discount bonds are generally issued at a more than 20%-25% discount to their face value and do not pay regular interest, a feature similar to zero-coupon notes that removes reinvestment risks.
The surge in interest from companies to raise funds via these bonds is because they reduce overall borrowing costs in an environment when interest rates are seen falling further.
For investors, these bonds, though not tax-free, offer a significant long-term capital gains benefit. That, along with the rarity of such issues, is boosting demand for such notes, bankers said.
"At maturity, investors receive a profit which is taxable as per capital gains rates. This helps reduce the effective tax rate for investors making zero-coupon bonds attractive," said Nikhil Aggarwal, founder and CEO of online bond trading platform Grip Invest.
Last week, Housing and Urban Development Corp (HUDCO) HUDC.NS became the third state-run company to get approval to issue these bonds.
"HUDCO was the most likely candidate and they have got the approval and we expect REC and IRFC to be the next likely candidates," one of the sources said.
The sources said the government's approval may come in phases as they are not comfortable with a surge in the supply of zero-coupon bonds. The sources refused to be identified as they are not authorised to speak to the media.
HUDCO got approval to raise 50 billion rupees through bonds with a maturity of 10 years and one month, while Power Finance Corp (PFC) PWFC.NS was approved to raise 100 billion rupees in March. Both have until the end of March 2027 to raise these funds.
($1 = 85.1780 Indian rupees)
(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Savio D'Souza)
(([email protected];))
Updates throughout
By Khushi Malhotra and Dharamraj Dhutia
MUMBAI, April 22 (Reuters) - At least six Indian state-run companies have sought government approval to issue deep-discount bonds, opting for a rarely used corporate bond structure to raise relatively cheaper funds, four sources aware of the matter said on Tuesday.
These companies are Indian Railway Finance Corp (IRFC) INID.NS, Indian Renewable Energy Development Agency (IREDA) INAR.NS, Power Grid Corp of India (PGC) PGRD.NS, REC RECM.NS, SIDBI and NABARD, the sources said.
REC has yet again sought permission to issue these bonds, after having raised 50 billion rupees ($587 million) similarly in September, when aggressive bids led to lower-than-expected yields.
REC confirmed the development but none of the other firms replied to Reuters emails seeking comment.
Deep-discount bonds are generally issued at a more than 20%-25% discount to their face value and do not pay regular interest, a feature similar to zero-coupon notes that removes reinvestment risks.
The surge in interest from companies to raise funds via these bonds is because they reduce overall borrowing costs in an environment when interest rates are seen falling further.
For investors, these bonds, though not tax-free, offer a significant long-term capital gains benefit. That, along with the rarity of such issues, is boosting demand for such notes, bankers said.
"At maturity, investors receive a profit which is taxable as per capital gains rates. This helps reduce the effective tax rate for investors making zero-coupon bonds attractive," said Nikhil Aggarwal, founder and CEO of online bond trading platform Grip Invest.
Last week, Housing and Urban Development Corp (HUDCO) HUDC.NS became the third state-run company to get approval to issue these bonds.
"HUDCO was the most likely candidate and they have got the approval and we expect REC and IRFC to be the next likely candidates," one of the sources said.
The sources said the government's approval may come in phases as they are not comfortable with a surge in the supply of zero-coupon bonds. The sources refused to be identified as they are not authorised to speak to the media.
HUDCO got approval to raise 50 billion rupees through bonds with a maturity of 10 years and one month, while Power Finance Corp (PFC) PWFC.NS was approved to raise 100 billion rupees in March. Both have until the end of March 2027 to raise these funds.
($1 = 85.1780 Indian rupees)
(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Savio D'Souza)
(([email protected];))
Power Finance Says Transfer Of Kurnool III PS RE Transmission To Power Grid Corporation Of India
March 27 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
TRANSFER OF KURNOOL III PS RE TRANSMISSION TO POWER GRID CORPORATION OF INDIA
CONSIDERATION RECEIVED 190.4 MILLION RUPEES
Source text: ID:nBSEc9Rntn
Further company coverage: PWFC.NS
(([email protected];))
March 27 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
TRANSFER OF KURNOOL III PS RE TRANSMISSION TO POWER GRID CORPORATION OF INDIA
CONSIDERATION RECEIVED 190.4 MILLION RUPEES
Source text: ID:nBSEc9Rntn
Further company coverage: PWFC.NS
(([email protected];))
Power Finance Says Parminder Chopra Assigned Additional Charge As CMD Of Rec Limited
March 21 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
POWER FINANCE - PARMINDER CHOPRA ASSIGNED ADDITIONAL CHARGE AS CMD OF REC LIMITED
Source text: ID:nNSE5HRfn6
Further company coverage: PWFC.NS
(([email protected];))
March 21 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
POWER FINANCE - PARMINDER CHOPRA ASSIGNED ADDITIONAL CHARGE AS CMD OF REC LIMITED
Source text: ID:nNSE5HRfn6
Further company coverage: PWFC.NS
(([email protected];))
India New Issue-PFC accepts bids for multiple tenor bonds, bankers say
MUMBAI, March 13 (Reuters) - India's Power Finance Corp PWFC.NS has accepted bids worth 56.85 billion rupees ($653 million) for multiple maturity bonds, three bankers said on Thursday.
The state-run company has accepted bids worth 16.85 billion rupees for one year and one month bonds and 40 billion rupees for three year and four month bonds.
It will pay an annual coupon of 7.75% and 7.45% on these issues, respectively, and had invited coupon and commitment bids for both the options earlier in the day.
PFC did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on March 13:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 1 year and 1 month | 7.75 | 16.85 | March 13 | AAA (Crisil, Care, Icra) |
PFC | 3 year and 4 months | 7.45 | 40 | March 13 | AAA (Crisil, Care, Icra) |
LIC Housing Finance | 2 years | To be decided | 10+30 | March 17 | AAA (Crisil, Care) |
Can Fin Homes | 2 years and 2 months | To be decided | 4+12 | March 17 | AAA (Icra) |
* Size includes base plus greenshoe for some issues
($1 = 87.0040 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
MUMBAI, March 13 (Reuters) - India's Power Finance Corp PWFC.NS has accepted bids worth 56.85 billion rupees ($653 million) for multiple maturity bonds, three bankers said on Thursday.
The state-run company has accepted bids worth 16.85 billion rupees for one year and one month bonds and 40 billion rupees for three year and four month bonds.
It will pay an annual coupon of 7.75% and 7.45% on these issues, respectively, and had invited coupon and commitment bids for both the options earlier in the day.
PFC did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on March 13:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 1 year and 1 month | 7.75 | 16.85 | March 13 | AAA (Crisil, Care, Icra) |
PFC | 3 year and 4 months | 7.45 | 40 | March 13 | AAA (Crisil, Care, Icra) |
LIC Housing Finance | 2 years | To be decided | 10+30 | March 17 | AAA (Crisil, Care) |
Can Fin Homes | 2 years and 2 months | To be decided | 4+12 | March 17 | AAA (Icra) |
* Size includes base plus greenshoe for some issues
($1 = 87.0040 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
Power Finance Approves Market Borrowing Program For FY 2025-26 For Up To 1.4 Trln Rupees
March 12 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
POWER FINANCE CORP - APPROVES MARKET BORROWING PROGRAM FOR FY 2025-26 FOR UP TO 1.4 TRLN RUPEES
POWER FINANCE - DIVIDEND 3.5 RUPEES PER SHARE
Source text: ID:nBSE1r6GLp
Further company coverage: PWFC.NS
(([email protected];;))
March 12 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
POWER FINANCE CORP - APPROVES MARKET BORROWING PROGRAM FOR FY 2025-26 FOR UP TO 1.4 TRLN RUPEES
POWER FINANCE - DIVIDEND 3.5 RUPEES PER SHARE
Source text: ID:nBSE1r6GLp
Further company coverage: PWFC.NS
(([email protected];;))
India New Issue-PFC to issue multiple tenor bonds, bankers say
MUMBAI, March 7 (Reuters) - India's Power Finance Corp PWFC.NS plans to raise 80 billion rupees ($920 million) through sale of multiple maturity bonds, three bankers said on Friday.
The state-run company plans to raise at least 7 billion rupees each through one year and one month, and three year and four month bonds, with a greenshoe option to retain 33 billion rupees for each issue.
The company has invited coupon and commitment bids for the bonds on Thursday, they said.
PFC did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on March 7:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 1 year and 1 month | To be decided | 7+33 | March 13 | AAA (Crisil, Care, Icra) |
PFC | 3 year and 4 months | To be decided | 7+33 | March 13 | AAA (Crisil, Care, Icra) |
Aditya Birla Housing Finance | 3 years and 5 months | 7.9015 | 2.50 + 12.50 | March 10 | AAA (Icra, Crisil) |
Edel Finance | 3 years | 10.35 | 5 | March 7 | A+ (Icra) |
NABARD April 2030 reissue | 5 years and 1 month | 7.50 (yield) | 70 | March 7 | AAA (Icra, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 86.9240 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)
MUMBAI, March 7 (Reuters) - India's Power Finance Corp PWFC.NS plans to raise 80 billion rupees ($920 million) through sale of multiple maturity bonds, three bankers said on Friday.
The state-run company plans to raise at least 7 billion rupees each through one year and one month, and three year and four month bonds, with a greenshoe option to retain 33 billion rupees for each issue.
The company has invited coupon and commitment bids for the bonds on Thursday, they said.
PFC did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on March 7:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 1 year and 1 month | To be decided | 7+33 | March 13 | AAA (Crisil, Care, Icra) |
PFC | 3 year and 4 months | To be decided | 7+33 | March 13 | AAA (Crisil, Care, Icra) |
Aditya Birla Housing Finance | 3 years and 5 months | 7.9015 | 2.50 + 12.50 | March 10 | AAA (Icra, Crisil) |
Edel Finance | 3 years | 10.35 | 5 | March 7 | A+ (Icra) |
NABARD April 2030 reissue | 5 years and 1 month | 7.50 (yield) | 70 | March 7 | AAA (Icra, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 86.9240 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)
India New Issue-PFC accepts bids for multiple tenor bonds, bankers say
MUMBAI, Feb 27 (Reuters) - India's Power Finance Corp PWFC.NS has accepted bids worth 64.15 billion rupees ($735.5 million) for the sale of multiple maturity bonds, three bankers said on Thursday.
The state-run company has accepted bids worth 33.40 billion rupees on the four-year 10-month and 12-day papers at a coupon of 7.44%, while it has accepted bids worth 30.75 billion rupees for nine-year 10-month and 12-days papers at 7.40% coupon.
The company had invited coupon and commitment bids for the issue earlier in the day, they said.
PFC did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on February 27:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 4-year, 10-month and 12 days | 7.44 | 33.40 | Feb. 27 | AAA (Crisil, Care, Icra) |
PFC | 9-year, 10-month and 12 days | 7.40 | 30.75 | Feb. 27 | AAA (Crisil, Care, Icra) |
SIDBI | 4 years and 3 months | 7.49 | 45.93 | Feb. 27 | AAA (Crisil, Care) |
NIIF Infra Finance | 8-12 years | 7.99 | 10 | Feb. 27 | AAA (Care, Icra |
NABARD | 10 years | 7.37 | 40.6 | Feb. 27 | AAA (Crisil) |
Aditya Birla Finance July 2028 reissue | 3 years and 4 months | To be decided | 2+5 | Feb. 28 | AAA (Crisil) |
Godrej Housing Finance | 5 years | 8.17 | 2.50+2.50 | Feb. 28 | AA+ (Crisil, Care) |
Bajaj Finance Feb 2030 reissue | 5 years | To be decided | 4.05+20.25 | Feb. 27 | AAA (Crisil) |
* Size includes base plus greenshoe for some issues
($1 = 87.2180 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sumana Nandy)
MUMBAI, Feb 27 (Reuters) - India's Power Finance Corp PWFC.NS has accepted bids worth 64.15 billion rupees ($735.5 million) for the sale of multiple maturity bonds, three bankers said on Thursday.
The state-run company has accepted bids worth 33.40 billion rupees on the four-year 10-month and 12-day papers at a coupon of 7.44%, while it has accepted bids worth 30.75 billion rupees for nine-year 10-month and 12-days papers at 7.40% coupon.
The company had invited coupon and commitment bids for the issue earlier in the day, they said.
PFC did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on February 27:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 4-year, 10-month and 12 days | 7.44 | 33.40 | Feb. 27 | AAA (Crisil, Care, Icra) |
PFC | 9-year, 10-month and 12 days | 7.40 | 30.75 | Feb. 27 | AAA (Crisil, Care, Icra) |
SIDBI | 4 years and 3 months | 7.49 | 45.93 | Feb. 27 | AAA (Crisil, Care) |
NIIF Infra Finance | 8-12 years | 7.99 | 10 | Feb. 27 | AAA (Care, Icra |
NABARD | 10 years | 7.37 | 40.6 | Feb. 27 | AAA (Crisil) |
Aditya Birla Finance July 2028 reissue | 3 years and 4 months | To be decided | 2+5 | Feb. 28 | AAA (Crisil) |
Godrej Housing Finance | 5 years | 8.17 | 2.50+2.50 | Feb. 28 | AA+ (Crisil, Care) |
Bajaj Finance Feb 2030 reissue | 5 years | To be decided | 4.05+20.25 | Feb. 27 | AAA (Crisil) |
* Size includes base plus greenshoe for some issues
($1 = 87.2180 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sumana Nandy)
India New Issue-PFC to issue multiple tenor bonds, bankers say
MUMBAI, Feb 25 (Reuters) - India's Power Finance Corp PWFC.NS plans to raise 80 billion rupees ($922.48 million), including a greenshoe option of 66 billion rupees, through the sale of multiple maturity bonds, three bankers said on Tuesday.
The state-run company aims to raise up to 40 billion rupees each through sale of bonds maturing in four year 10-month and 12 days and in nine year 10 month and 12 days.
It has invited coupon and commitment bids for the issue on Thursday, they said.
PFC did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on February 25:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 4-year, 10-month and 12 days | To be decided | 7+33 | Feb. 27 | AAA (Crisil, Care, Icra |
PFC | 9-year, 10-month and 12 days | To be decided | 7+33 | Feb. 27 | AAA (Crisil, Care, Icra |
*Size includes base plus greenshoe for some issues
($1 = 86.7230 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Rashmi Aich)
MUMBAI, Feb 25 (Reuters) - India's Power Finance Corp PWFC.NS plans to raise 80 billion rupees ($922.48 million), including a greenshoe option of 66 billion rupees, through the sale of multiple maturity bonds, three bankers said on Tuesday.
The state-run company aims to raise up to 40 billion rupees each through sale of bonds maturing in four year 10-month and 12 days and in nine year 10 month and 12 days.
It has invited coupon and commitment bids for the issue on Thursday, they said.
PFC did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on February 25:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 4-year, 10-month and 12 days | To be decided | 7+33 | Feb. 27 | AAA (Crisil, Care, Icra |
PFC | 9-year, 10-month and 12 days | To be decided | 7+33 | Feb. 27 | AAA (Crisil, Care, Icra |
*Size includes base plus greenshoe for some issues
($1 = 86.7230 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Rashmi Aich)
Maithan Alloys Acquires Equity Shares Of Power Finance Corporation
Feb 21 (Reuters) - Maithan Alloys Ltd MAIT.NS:
MAITHAN ALLOYS LTD - ACQUIRES EQUITY SHARES OF POWER FINANCE CORPORATION
MAITHAN ALLOYS LTD - ACQUISITION COST 59.7 MILLION RUPEES
Source text: ID:nBSE9BLZcc
Further company coverage: MAIT.NS
(([email protected];;))
Feb 21 (Reuters) - Maithan Alloys Ltd MAIT.NS:
MAITHAN ALLOYS LTD - ACQUIRES EQUITY SHARES OF POWER FINANCE CORPORATION
MAITHAN ALLOYS LTD - ACQUISITION COST 59.7 MILLION RUPEES
Source text: ID:nBSE9BLZcc
Further company coverage: MAIT.NS
(([email protected];;))
India New Issue-PFC accepts bids for multiple tenor bonds, bankers say
MUMBAI, Feb 17 (Reuters) - India's Power Finance Corp (PFC) PWFC.NS accepted bids worth 68.35 billion rupees ($787.3 million) for bonds maturing in three years and two months, and in six years and 11 months, three bankers said on Monday.
The company will pay an annual coupon of 7.42% and 7.38%, respectively, on these issues and had invited coupon and commitment bids from bankers and investors for both the options earlier in the day, the bankers added.
This is the second time this month that PFC raised funds through the bond market. In the first week of February, it had raised an aggregate of 39.50 billion rupees through bonds maturing in nearly 10 years and nearly 20 years at 7.24% and 7.25% coupons, respectively.
PFC did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on February 17:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 3 years and 2 months | 7.42 | 40 | Feb. 17 | AAA (Crisil, Care, Icra) |
PFC | 6 years and 11 months | 7.38 | 28.35 | Feb. 17 | AAA (Crisil, Care, Icra) |
Axis Max Life Insurance | 10 years | 8.34 | 5 | Feb. 17 | AA+ (Care) |
Tata Steel | 5 years | 7.65 | 30 | Feb. 21 | AAA (India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 86.8190 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
MUMBAI, Feb 17 (Reuters) - India's Power Finance Corp (PFC) PWFC.NS accepted bids worth 68.35 billion rupees ($787.3 million) for bonds maturing in three years and two months, and in six years and 11 months, three bankers said on Monday.
The company will pay an annual coupon of 7.42% and 7.38%, respectively, on these issues and had invited coupon and commitment bids from bankers and investors for both the options earlier in the day, the bankers added.
This is the second time this month that PFC raised funds through the bond market. In the first week of February, it had raised an aggregate of 39.50 billion rupees through bonds maturing in nearly 10 years and nearly 20 years at 7.24% and 7.25% coupons, respectively.
PFC did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on February 17:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 3 years and 2 months | 7.42 | 40 | Feb. 17 | AAA (Crisil, Care, Icra) |
PFC | 6 years and 11 months | 7.38 | 28.35 | Feb. 17 | AAA (Crisil, Care, Icra) |
Axis Max Life Insurance | 10 years | 8.34 | 5 | Feb. 17 | AA+ (Care) |
Tata Steel | 5 years | 7.65 | 30 | Feb. 21 | AAA (India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 86.8190 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
India New Issue-PFC to issue multiple maturity bonds, bankers say
MUMBAI, Feb 14 (Reuters) - India's Power Finance Corp PWFC.NS (PFC) plans to raise 80 billion rupees ($922.3 million), including a greenshoe option of 66 billion rupees, through the sale of bonds maturing in three years and two months and in six years and 11 months, three bankers said on Friday.
The company has invited coupon and commitment bids from bankers and investors for both the options on Monday, the bankers added.
This is the second time this month that PFC is looking to raise funds through the bond market. In the first week of February, it had raised an aggregate of 39.50 billion rupees through bonds maturing in nearly 10 years and nearly 20 years at 7.24% and 7.25% coupons, respectively.
PFC did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on February 14
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 3 years and 2 months | To be decided | 7+33 | Feb. 17 | AAA (Crisil, Care, Icra) |
PFC | 6 years and 11 months | To be decided | 7+33 | Feb. 17 | AAA (Crisil, Care, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 86.7390 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sumana Nandy)
MUMBAI, Feb 14 (Reuters) - India's Power Finance Corp PWFC.NS (PFC) plans to raise 80 billion rupees ($922.3 million), including a greenshoe option of 66 billion rupees, through the sale of bonds maturing in three years and two months and in six years and 11 months, three bankers said on Friday.
The company has invited coupon and commitment bids from bankers and investors for both the options on Monday, the bankers added.
This is the second time this month that PFC is looking to raise funds through the bond market. In the first week of February, it had raised an aggregate of 39.50 billion rupees through bonds maturing in nearly 10 years and nearly 20 years at 7.24% and 7.25% coupons, respectively.
PFC did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on February 14
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 3 years and 2 months | To be decided | 7+33 | Feb. 17 | AAA (Crisil, Care, Icra) |
PFC | 6 years and 11 months | To be decided | 7+33 | Feb. 17 | AAA (Crisil, Care, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 86.7390 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sumana Nandy)
India New Issue-PFC accepts bids for bond issues, bankers say
MUMBAI, Feb 4 (Reuters) - India's Power Finance Corp PWFC.NS (PFC) has accepted bids worth 39.50 billion Indian rupees ($453.7 million), for bonds maturing in nearly 10 years and in nearly 20 years, three bankers said on Tuesday.
The company will pay an annual coupon of 7.24% and 7.25% respectively and had invited coupon and commitment bids for both options earlier in the day, the bankers added.
PFC did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on Feb. 4:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 9 year 11 month and 9 days | 7.24 | 25 | Feb. 4 | AAA (Crisil, Care, Icra) |
PFC | 19 year 11 month and 9 days | 7.25 | 14.50 | Feb. 4 | |
NaBFID | 15 years | 7.25 | 50 | Feb. 4 | AAA (Crisil, Icra) |
Bajaj Finance Feb 2030 reissue | 5 years | 7.74 (yield) | 5 | Feb. 3 | AAA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 87.0630 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Sumana Nandy)
MUMBAI, Feb 4 (Reuters) - India's Power Finance Corp PWFC.NS (PFC) has accepted bids worth 39.50 billion Indian rupees ($453.7 million), for bonds maturing in nearly 10 years and in nearly 20 years, three bankers said on Tuesday.
The company will pay an annual coupon of 7.24% and 7.25% respectively and had invited coupon and commitment bids for both options earlier in the day, the bankers added.
PFC did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on Feb. 4:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 9 year 11 month and 9 days | 7.24 | 25 | Feb. 4 | AAA (Crisil, Care, Icra) |
PFC | 19 year 11 month and 9 days | 7.25 | 14.50 | Feb. 4 | |
NaBFID | 15 years | 7.25 | 50 | Feb. 4 | AAA (Crisil, Icra) |
Bajaj Finance Feb 2030 reissue | 5 years | 7.74 (yield) | 5 | Feb. 3 | AAA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 87.0630 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Sumana Nandy)
India New Issue-PFC to issue multiple tenor bonds, bankers say
MUMBAI, Jan 31 (Reuters) - India's Power Finance Corp (PFC) PWFC.NS plans to raise 50 billion rupees ($577.4 million), which includes 40 billion rupees of a greenshoe option, through the sale of bonds maturing in nearly 10 years and in nearly 20 years, three bankers said on Friday.
The company has invited coupon and commitment bids for both the options on Tuesday, the bankers said.
PFC did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on Jan. 31:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Power Finance Corp | 9 year 11 month and 9 days | To be decided | 5+20 | Feb. 4 | AAA (Crisil, Care, Icra) |
Power Finance Corp | 19 year 11 month and 9 days | To be decided | 5+20 | Feb. 4 | AAA (Crisil, Care, Icra) |
M&M Financial | 3 years and 3 months | 7.8863 | 7.05 | Jan. 31 | AAA (India Ratings) |
Bajaj Finance Feb 2030 reissue | 5 years | To be decided | 5+25 | Feb. 3 | AAA (Crisil) |
NaBFID | 15 years | To be decided | 20+30 | Feb. 4 | AAA (Crisil, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 86.5950 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
MUMBAI, Jan 31 (Reuters) - India's Power Finance Corp (PFC) PWFC.NS plans to raise 50 billion rupees ($577.4 million), which includes 40 billion rupees of a greenshoe option, through the sale of bonds maturing in nearly 10 years and in nearly 20 years, three bankers said on Friday.
The company has invited coupon and commitment bids for both the options on Tuesday, the bankers said.
PFC did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on Jan. 31:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Power Finance Corp | 9 year 11 month and 9 days | To be decided | 5+20 | Feb. 4 | AAA (Crisil, Care, Icra) |
Power Finance Corp | 19 year 11 month and 9 days | To be decided | 5+20 | Feb. 4 | AAA (Crisil, Care, Icra) |
M&M Financial | 3 years and 3 months | 7.8863 | 7.05 | Jan. 31 | AAA (India Ratings) |
Bajaj Finance Feb 2030 reissue | 5 years | To be decided | 5+25 | Feb. 3 | AAA (Crisil) |
NaBFID | 15 years | To be decided | 20+30 | Feb. 4 | AAA (Crisil, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 86.5950 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
Balmer Lawrie And Company Says Undertaking Issued By Co In Favour Of Power Finance Corporation
Jan 22 (Reuters) - Balmer Lawrie and Company Ltd BLMR.NS:
UNDERTAKING ISSUED BY CO IN FAVOUR OF POWER FINANCE CORPORATION
ISSUANCE OF UNDERTAKING TO INFUSE FUNDS FOR DEBT SERVICING BY UNIT
SHORTFALL UNDERTAKING TO LENDER OF UNIT FOR UP TO 765 MILLION RUPEES
Source text: ID:nBSEbkChN3
Further company coverage: BLMR.NS
(([email protected];;))
Jan 22 (Reuters) - Balmer Lawrie and Company Ltd BLMR.NS:
UNDERTAKING ISSUED BY CO IN FAVOUR OF POWER FINANCE CORPORATION
ISSUANCE OF UNDERTAKING TO INFUSE FUNDS FOR DEBT SERVICING BY UNIT
SHORTFALL UNDERTAKING TO LENDER OF UNIT FOR UP TO 765 MILLION RUPEES
Source text: ID:nBSEbkChN3
Further company coverage: BLMR.NS
(([email protected];;))
Power Finance Says Gadag II And Koppal II Transmission Transferred To Power Grid Corporation
Jan 16 (Reuters) - Power Finance Corporation PWFC.NS:
GADAG II AND KOPPAL II TRANSMISSION TRANSFERRED TO POWER GRID CORPORATION
BIJAPUR REZ TRANSMISSION TRANSFERRED TO G R INFRAPROJECTS
Source text: ID:nBSE99YXrZ
Further company coverage: PGRD.NS
(([email protected];;))
Jan 16 (Reuters) - Power Finance Corporation PWFC.NS:
GADAG II AND KOPPAL II TRANSMISSION TRANSFERRED TO POWER GRID CORPORATION
BIJAPUR REZ TRANSMISSION TRANSFERRED TO G R INFRAPROJECTS
Source text: ID:nBSE99YXrZ
Further company coverage: PGRD.NS
(([email protected];;))
Power Finance Says Kudankulam JSTS Transmission Transferred To Power Grid
Jan 10 (Reuters) - Power Grid Corporation of India Ltd PGRD.NS:
POWER FINANCE - KUDANKULAM JSTS TRANSMISSION TRANSFERRED TO POWER GRID
POWER FINANCE - DEAL FOR 74.4 MILLION RUPEES
Source text: ID:nBSE9K8X9w
Further company coverage: PGRD.NS
(([email protected];;))
Jan 10 (Reuters) - Power Grid Corporation of India Ltd PGRD.NS:
POWER FINANCE - KUDANKULAM JSTS TRANSMISSION TRANSFERRED TO POWER GRID
POWER FINANCE - DEAL FOR 74.4 MILLION RUPEES
Source text: ID:nBSE9K8X9w
Further company coverage: PGRD.NS
(([email protected];;))
Power Finance Says SPV Company Incorporated As Subsidiary Of PFC Consulting
Jan 7 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
SPV COMPANY INCORPORATED AS SUBSIDIARY OF PFC CONSULTING
Source text: ID:nNSE2TfXGx
Further company coverage: PWFC.NS
(([email protected];;))
Jan 7 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
SPV COMPANY INCORPORATED AS SUBSIDIARY OF PFC CONSULTING
Source text: ID:nNSE2TfXGx
Further company coverage: PWFC.NS
(([email protected];;))
Acme Solar Holdings Secures 19.88 Billion Rupees Financing From PFC
Dec 26 (Reuters) - ACME Solar Holdings Ltd ACMO.NS:
ACME SOLAR HOLDINGS LTD - SECURES 19.88 BILLION RUPEES FINANCING FROM PFC
ACME SOLAR HOLDINGS LTD - WINS 300 MW SECI ISTS SOLAR PROJECT
ACME SOLAR HOLDINGS - GETS 300 MW SECI ISTS SOLAR PROJECT AT TARIFF OF 3.05 RUPEES PER UNIT
Source text: ID:nBSE4yXRbD
Further company coverage: ACMO.NS
(([email protected];))
Dec 26 (Reuters) - ACME Solar Holdings Ltd ACMO.NS:
ACME SOLAR HOLDINGS LTD - SECURES 19.88 BILLION RUPEES FINANCING FROM PFC
ACME SOLAR HOLDINGS LTD - WINS 300 MW SECI ISTS SOLAR PROJECT
ACME SOLAR HOLDINGS - GETS 300 MW SECI ISTS SOLAR PROJECT AT TARIFF OF 3.05 RUPEES PER UNIT
Source text: ID:nBSE4yXRbD
Further company coverage: ACMO.NS
(([email protected];))
India New Issue-PFC accepts bids for multiple tenor bonds, bankers say
MUMBAI, Dec 20 (Reuters) - India's Power Finance Corp (PFC) PWFC.NS has accepted bids worth an aggregate of 52.45 billion rupees ($617.1 million) for bonds maturing in five years and 23 days, and in 15 years and 24 days, three bankers said on Friday.
The company will pay an annual coupon of 7.40% and 7.16% on these issues, and had invited coupon and commitment bids for both the options earlier in the day, the bankers said.
PFC did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on Dec. 20:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 5 years and 23 days | 7.40 | 25.45 | Dec. 20 | AAA (Crisil, Care, Icra) |
PFC | 15 years and 24 days | 7.16 | 27 | Dec. 20 | AAA (Crisil, Care, Icra) |
SIDBI | 4 years and 5 months | 7.48 | 37 | Dec. 20 | AAA (Crisil, Care) |
Punjab National Bank | 15 years | 7.43 | 30 | Dec. 20 | AAA (Crisil, India Ratings) |
Tata Capital Oct 2027 reissue | 2 year and 10 months | 7.8007 (yield) | 5 | Dec. 20 | AAA (Crisil, Icra) |
Tata Capital Jul 2034 reissue | 9 year and 7 months | 7.7205 (yield) | 1.51 | Dec. 20 | AAA (Crisil, Icra) |
NDR InvIT Trust | 8 years | 8.05 (payable quarterly) | 6.30 | Dec. 20 | AAA (Care, India Ratings) |
Tata Power Renewable Energy | 10 years | 7.70 | 10 | Dec. 23 | AA+ (India Ratings) |
HUDCO | 10 years | To be decided | 5+20 | Dec. 23 | AAA (India Ratings, Care) |
* Size includes base plus greenshoe for some issues
($1 = 85.0000 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Varun H K)
MUMBAI, Dec 20 (Reuters) - India's Power Finance Corp (PFC) PWFC.NS has accepted bids worth an aggregate of 52.45 billion rupees ($617.1 million) for bonds maturing in five years and 23 days, and in 15 years and 24 days, three bankers said on Friday.
The company will pay an annual coupon of 7.40% and 7.16% on these issues, and had invited coupon and commitment bids for both the options earlier in the day, the bankers said.
PFC did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on Dec. 20:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 5 years and 23 days | 7.40 | 25.45 | Dec. 20 | AAA (Crisil, Care, Icra) |
PFC | 15 years and 24 days | 7.16 | 27 | Dec. 20 | AAA (Crisil, Care, Icra) |
SIDBI | 4 years and 5 months | 7.48 | 37 | Dec. 20 | AAA (Crisil, Care) |
Punjab National Bank | 15 years | 7.43 | 30 | Dec. 20 | AAA (Crisil, India Ratings) |
Tata Capital Oct 2027 reissue | 2 year and 10 months | 7.8007 (yield) | 5 | Dec. 20 | AAA (Crisil, Icra) |
Tata Capital Jul 2034 reissue | 9 year and 7 months | 7.7205 (yield) | 1.51 | Dec. 20 | AAA (Crisil, Icra) |
NDR InvIT Trust | 8 years | 8.05 (payable quarterly) | 6.30 | Dec. 20 | AAA (Care, India Ratings) |
Tata Power Renewable Energy | 10 years | 7.70 | 10 | Dec. 23 | AA+ (India Ratings) |
HUDCO | 10 years | To be decided | 5+20 | Dec. 23 | AAA (India Ratings, Care) |
* Size includes base plus greenshoe for some issues
($1 = 85.0000 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Varun H K)
India New Issue-PFC to issue multiple tenor bonds, bankers say
MUMBAI, Dec 19 (Reuters) - India's Power Finance Corp (PFC) PWFC.NS plans to raise 60 billion rupees ($705.3 million), which includes a greenshoe option of 50 billion rupees, through a sale of bonds maturing in five years and 23 days, and in 15 years and 24 days, three bankers said on Thursday.
The company has invited coupon and commitment bids for both the options on Friday, the bankers said.
PFC did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on Dec. 19:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 5 years and 23 days | To be decided | 5+25 | Dec. 20 | AAA (Crisil, Care, Icra) |
PFC | 15 years and 24 days | To be decided | 5+25 | Dec. 20 | AAA (Crisil, Care, Icra) |
SIDBI | 4 years and 5 months | To be decided | 10+30 | Dec. 20 | AAA (Crisil, Care) |
Punjab National Bank | 15 years | To be decided | 10+20 | Dec. 20 | AAA (Crisil, India Ratings) |
India Infradebt | 10 years | To be decided | 2.50+2.50 | Dec. 20 | AAA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 85.0650 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Varun H K)
MUMBAI, Dec 19 (Reuters) - India's Power Finance Corp (PFC) PWFC.NS plans to raise 60 billion rupees ($705.3 million), which includes a greenshoe option of 50 billion rupees, through a sale of bonds maturing in five years and 23 days, and in 15 years and 24 days, three bankers said on Thursday.
The company has invited coupon and commitment bids for both the options on Friday, the bankers said.
PFC did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on Dec. 19:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 5 years and 23 days | To be decided | 5+25 | Dec. 20 | AAA (Crisil, Care, Icra) |
PFC | 15 years and 24 days | To be decided | 5+25 | Dec. 20 | AAA (Crisil, Care, Icra) |
SIDBI | 4 years and 5 months | To be decided | 10+30 | Dec. 20 | AAA (Crisil, Care) |
Punjab National Bank | 15 years | To be decided | 10+20 | Dec. 20 | AAA (Crisil, India Ratings) |
India Infradebt | 10 years | To be decided | 2.50+2.50 | Dec. 20 | AAA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 85.0650 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Varun H K)
India New Issue-PFC accepts bids for multiple tenor bonds, bankers say
MUMBAI, Dec 9 (Reuters) - India's Power Finance Corp PWFC.NS (PFC) has accepted bids worth an aggregate of 62.52 billion rupees ($737.9 million) for bonds maturing in 10 years and one month and in 15 years and one month, three bankers said on Monday.
The company will pay an annual coupon of 7.10% and 7.11% to investors of these bonds, respectively, and had invited coupon and commitment bids for the issue earlier in the day, the bankers said.
PFC did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on Dec. 9:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 10 years and 1 month | 7.10 | 30.52 | Dec. 9 | AAA (Crisil, Care, Icra) |
PFC | 15 years and 1 month | 7.11 | 32 | Dec. 9 | AAA (Crisil, Care, Icra) |
Mumbai Urja Marg | 13 years, 9 months and 15 days | To be decided | 24.50 | Dec. 13 | AA+ (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 84.7250 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Sumana Nandy)
MUMBAI, Dec 9 (Reuters) - India's Power Finance Corp PWFC.NS (PFC) has accepted bids worth an aggregate of 62.52 billion rupees ($737.9 million) for bonds maturing in 10 years and one month and in 15 years and one month, three bankers said on Monday.
The company will pay an annual coupon of 7.10% and 7.11% to investors of these bonds, respectively, and had invited coupon and commitment bids for the issue earlier in the day, the bankers said.
PFC did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on Dec. 9:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 10 years and 1 month | 7.10 | 30.52 | Dec. 9 | AAA (Crisil, Care, Icra) |
PFC | 15 years and 1 month | 7.11 | 32 | Dec. 9 | AAA (Crisil, Care, Icra) |
Mumbai Urja Marg | 13 years, 9 months and 15 days | To be decided | 24.50 | Dec. 13 | AA+ (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 84.7250 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Sumana Nandy)
India New Issue-PFC to issue multiple tenor bonds, bankers say
MUMBAI, Dec 6 (Reuters) - India's Power Finance Corp PWFC.NS (PFC) plans to raise up to 70 billion rupees ($826.8 million), three bankers said on Friday.
This includes 58 billon rupees of a greenshoe option through the sale of two bonds, one maturing in 10 years and one month and the other in 15 years and one month, they said.
The company aims to raise at least 6 billion rupees through each option and has invited coupon and commitment bids for the issue on Monday, the bankers said.
Power Finance did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on Dec. 6:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 10 years and 1 month | To be decided | 6+29 | Dec. 9 | AAA (Crisil, Care, Icra) |
PFC | 15 years and 1 month | To be decided | 6+29 | Dec. 9 | AAA (Crisil, Care, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 84.6680 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)
MUMBAI, Dec 6 (Reuters) - India's Power Finance Corp PWFC.NS (PFC) plans to raise up to 70 billion rupees ($826.8 million), three bankers said on Friday.
This includes 58 billon rupees of a greenshoe option through the sale of two bonds, one maturing in 10 years and one month and the other in 15 years and one month, they said.
The company aims to raise at least 6 billion rupees through each option and has invited coupon and commitment bids for the issue on Monday, the bankers said.
Power Finance did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on Dec. 6:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 10 years and 1 month | To be decided | 6+29 | Dec. 9 | AAA (Crisil, Care, Icra) |
PFC | 15 years and 1 month | To be decided | 6+29 | Dec. 9 | AAA (Crisil, Care, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 84.6680 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)
Power Finance Says SPV Raghanesda Re Transmission Incorporated As A Unit
Dec 3 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
POWER FINANCE - SPV RAGHANESDA RE TRANSMISSION INCORPORATED AS A UNIT
Source text: [ID:]
Further company coverage: PWFC.NS
(([email protected];))
Dec 3 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
POWER FINANCE - SPV RAGHANESDA RE TRANSMISSION INCORPORATED AS A UNIT
Source text: [ID:]
Further company coverage: PWFC.NS
(([email protected];))
Power Finance Says Unit Incorporated Subsidiary Kurnool III PS RE Transmission
Dec 2 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
UNIT INCORPORATED SUBSIDIARY KURNOOL III PS RE TRANSMISSION
Source text: ID:nBSE9fxdqD
Further company coverage: PWFC.NS
(([email protected];;))
Dec 2 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
UNIT INCORPORATED SUBSIDIARY KURNOOL III PS RE TRANSMISSION
Source text: ID:nBSE9fxdqD
Further company coverage: PWFC.NS
(([email protected];;))
Power Finance Says Bhuj Ict Transmission Incorporated As Wholly Owned Subsidiary Of PFC Consulting
Nov 21 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
BHUJ ICT TRANSMISSION INCORPORATED AS WHOLLY OWNED SUBSIDIARY OF PFC CONSULTING
Source text: ID:nBSE7C8G22
Further company coverage: PWFC.NS
(([email protected];;))
Nov 21 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
BHUJ ICT TRANSMISSION INCORPORATED AS WHOLLY OWNED SUBSIDIARY OF PFC CONSULTING
Source text: ID:nBSE7C8G22
Further company coverage: PWFC.NS
(([email protected];;))
Power Finance Says Transfer Of Pune- III Transmission To Adani Energy Solutions
Nov 19 (Reuters) - Adani Energy Solutions Ltd ADAI.NS:
POWER FINANCE - TRANSFER OF PUNE- III TRANSMISSION TO ADANI ENERGY SOLUTIONS
POWER FINANCE - DEAL FOR 187.9 MILLION RUPEES
Source text: ID:nNSE5hgj7r
Further company coverage: ADAI.NS
(([email protected];))
Nov 19 (Reuters) - Adani Energy Solutions Ltd ADAI.NS:
POWER FINANCE - TRANSFER OF PUNE- III TRANSMISSION TO ADANI ENERGY SOLUTIONS
POWER FINANCE - DEAL FOR 187.9 MILLION RUPEES
Source text: ID:nNSE5hgj7r
Further company coverage: ADAI.NS
(([email protected];))
India revises norms for dividend payout, share buybacks for state-run firms
By Nikunj Ohri
NEW DELHI, Nov 18 (Reuters) - India has revised guidelines for dividend payments, share buybacks and stock splits at state-run companies to improve capital management and bolster performance of their equities.
The government has asked state-run non-banking financial companies (NBFC) to pay a minimum annual dividend of 30% of their profit subject to any present legal provisions, according to guidelines by the federal finance ministry released on Monday.
Dividend payout limits for NBFCs are prescribed by the Reserve Bank of India based on their capital requirement and asset quality. Power Finance Corp PWFC.NS and REC Ltd RECM.NS are the biggest government-owned listed NBFCs.
Except for government-owned banks and insurance companies, all state-run firms government have to pay a dividend of 30% of profits or 4% of net worth, whichever is higher. Presently, public sector companies have to pay an annual dividend of 30% of profit or 5% of net worth, whichever is higher. The guidelines will be applicable from the current financial year ending March 31, 2025.
Firms whose share price is less than its book value for the past six months, have a net worth of 30 billion rupees ($355.51 million) and a cash balance of 15 billion rupees have been asked to consider share buybacks.
Past limits for share buybacks were a net worth of at least 20 billion rupees and cash and bank balance of 10 billion rupees.
The guidelines released on Monday require state-run firms to issue bonus shares if their reserves are 20 times share capital from five times earlier.
State-run firms have also been asked to opt for stock splits in case the share price exceeds 150 times their face value for the last six months from 50 times earlier. Stock splits help in improving trading volumes, making it attractive for retail investors.
($1 = 84.3860 Indian rupees)
(Reporting by Nikunj Ohri; Editing by Anil D'Silva)
(([email protected]; +91 90284 60730; Reuters Messaging: twitter.com/nikunj_ohri))
By Nikunj Ohri
NEW DELHI, Nov 18 (Reuters) - India has revised guidelines for dividend payments, share buybacks and stock splits at state-run companies to improve capital management and bolster performance of their equities.
The government has asked state-run non-banking financial companies (NBFC) to pay a minimum annual dividend of 30% of their profit subject to any present legal provisions, according to guidelines by the federal finance ministry released on Monday.
Dividend payout limits for NBFCs are prescribed by the Reserve Bank of India based on their capital requirement and asset quality. Power Finance Corp PWFC.NS and REC Ltd RECM.NS are the biggest government-owned listed NBFCs.
Except for government-owned banks and insurance companies, all state-run firms government have to pay a dividend of 30% of profits or 4% of net worth, whichever is higher. Presently, public sector companies have to pay an annual dividend of 30% of profit or 5% of net worth, whichever is higher. The guidelines will be applicable from the current financial year ending March 31, 2025.
Firms whose share price is less than its book value for the past six months, have a net worth of 30 billion rupees ($355.51 million) and a cash balance of 15 billion rupees have been asked to consider share buybacks.
Past limits for share buybacks were a net worth of at least 20 billion rupees and cash and bank balance of 10 billion rupees.
The guidelines released on Monday require state-run firms to issue bonus shares if their reserves are 20 times share capital from five times earlier.
State-run firms have also been asked to opt for stock splits in case the share price exceeds 150 times their face value for the last six months from 50 times earlier. Stock splits help in improving trading volumes, making it attractive for retail investors.
($1 = 84.3860 Indian rupees)
(Reporting by Nikunj Ohri; Editing by Anil D'Silva)
(([email protected]; +91 90284 60730; Reuters Messaging: twitter.com/nikunj_ohri))
Power Finance Sept-Quarter Profit From Continuing Operations 43.70 Bln Rupees
Nov 8 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
SEPT-QUARTER PROFIT FROM CONTINUING OPERATIONS 43.70 BILLION RUPEES
SEPT-QUARTER INTEREST INCOME 119.09 BILLION RUPEES
DIVIDEND OF 3.5 RUPEES PER SHARE
Source text: [ID:]
Further company coverage: PWFC.NS
(([email protected];;))
Nov 8 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
SEPT-QUARTER PROFIT FROM CONTINUING OPERATIONS 43.70 BILLION RUPEES
SEPT-QUARTER INTEREST INCOME 119.09 BILLION RUPEES
DIVIDEND OF 3.5 RUPEES PER SHARE
Source text: [ID:]
Further company coverage: PWFC.NS
(([email protected];;))
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What does Power Finance Corp do?
Power Finance Corporation (PFC) is a leading Non-Banking Financial Corporation in India, providing financial assistance to Power Utilities for the development of the power sector through bond issuances, term loans, and ECBs.
Who are the competitors of Power Finance Corp?
Power Finance Corp major competitors are Chola Invest & Fin., Shriram Finance, REC, Muthoot Finance, JIO Financial Serv., SBI Cards AndPayment, Indian Railway Fin.. Market Cap of Power Finance Corp is ₹1,33,588 Crs. While the median market cap of its peers are ₹1,20,598 Crs.
Is Power Finance Corp financially stable compared to its competitors?
Power Finance Corp seems to be less financially stable compared to its competitors. Altman Z score of Power Finance Corp is 0.56 and is ranked 7 out of its 8 competitors.
Does Power Finance Corp pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Power Finance Corp latest dividend payout ratio is 22.54% and 3yr average dividend payout ratio is 22.39%
How strong is Power Finance Corp balance sheet?
Latest balance sheet of Power Finance Corp is strong. Strength was visible historically as well.
Is the profitablity of Power Finance Corp improving?
Yes, profit is increasing. The profit of Power Finance Corp is ₹30,515 Crs for TTM, ₹19,761 Crs for Mar 2024 and ₹15,889 Crs for Mar 2023.
Is Power Finance Corp stock expensive?
Yes, Power Finance Corp is expensive. Latest PE of Power Finance Corp is 5.81, while 3 year average PE is 4.37. Also latest Price to Book of Power Finance Corp is 1.13 while 3yr average is 0.84.
Has the share price of Power Finance Corp grown faster than its competition?
Power Finance Corp has given lower returns compared to its competitors. Power Finance Corp has grown at ~-5.14% over the last 1yrs while peers have grown at a median rate of 22.84%
Is the promoter bullish about Power Finance Corp?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Power Finance Corp is 55.99% and last quarter promoter holding is 55.99%.
Are mutual funds buying/selling Power Finance Corp?
The mutual fund holding of Power Finance Corp is decreasing. The current mutual fund holding in Power Finance Corp is 10.84% while previous quarter holding is 11.57%.