THDCIL Corporate Bond Series X of Rs 750 Crore oversubscribed 8 times

Rishikesh: THDC India Limited a prominent entity in the energy sector, has achieved a significant milestone by successfully raising Rs 750 Crore through the issuance of THDCIL Corporate Bonds Series- X. Sh. R. K. Vishnoi, Chairman and Managing Director, THDCIL while expressing satisfaction over overwhelming response from the investors informed that the issue comprises of a base size of Rs 250 Crore and a green shoe option of Rs 500 Crore, i.e. total issue size of Rs 750 Crore, with a tenor of 10 years. The funds raised through this issue will be utilized to partly meet debt requirements of THDCIL’s ongoing and under-construction projects including recoupment of expenditure already incurred and to refinance the existing loans.

 

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He further mentioned that the bonds issue attracted considerable investor interest, leading to a noteworthy oversubscription of approximately 8 times the base issue size, amounting to Rs 2072.42 Crore.

He added that this accomplishment underscores the confidence of investors in THDCIL’s financial stability and operational performance. The competitive coupon rate of 7.76% p.a. discovered through BSE–Electronic Bidding Platform, further reinforces the trust placed in THDCIL Corporate Bonds.

Additionally, these bonds have received a credit rating of “AA outlook Positive” from India Ratings and “AA outlook Stable” from CARE, emphasizing the company's robust creditworthiness.
 

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The bidding for this successful bond issue took place on May 27, 2024 at THDCIL's Corporate Office in Rishikesh. The assignment was coordinated by Sh. A.K. Garg, CFO, Ms. Rashmi Sharma, Company Secretary, THDCIL and Ms. Hemlata Agarwal, BSE Head Northern Region, Fixed Income.

THDCIL has established a notable presence not only in Hydro Power Generation but also in Renewable Energy with a nationwide presence. Presently, THDCIL is a Category-1 Mini Ratna Class–A Central Public Sector Undertaking (CPSU). The company presently manages an energy capacity of 1587 MW, encompassing Hydro, Wind, and Solar power.

Furthermore, THDCIL is in the process of advancing its capabilities, with imminent addition of 1444 MW in hydro capacity including the aspirational 1000 MW Tehri Pumped Storage Plant. Furthermore, the 1320 MW Khurja Super Critical thermal power project at Khurja, Bulandshahr is also undergoing advanced development stages. It is also to mention that THDCIL has operational coal mines at Amelia, Madhya Pradesh with the Commercial Operations commenced six months ahead of its schedule which is also a special achievement.

As of present, THDCIL has issued a total of 10 series of Bonds and has successfully raised funds amounting to Rs. 8542 Crore from the corporate debt market. All of these bond issues have consistently elicited strong investor interest displaying market confidence on THDCIL.

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