NTPC pre-closes oversubscribed Rs 700 cr tax-free bond issue
New Delhi. NTPC Ltd has pre-closed its public issue of Rs 700 crore tax-free bonds as it was oversubscribed by 11.04 times on the opening day yesterday."In view of oversubscription, the Company is pre-closing the public issue of tax free bonds on September 24, 2015," the NTPC has informed BSE.
"By the end of Day 1 ie by 5.00 PM the issue was oversubscribed by 11.04 times of the base issue size of Rs 400 crore and 6.31 times of the overall issue size of Rs 700 crore," the company had said in a statement yesterday.The retail portion was oversubscribed by 6.60 times reflecting a huge confidence of retail investors in the company, it said.
NTPC was among seven state-run entities, including NHAI and IRFC, which were given permission to raise Rs 40,000 crore in the current fiscal through tax-free bonds.
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