Power Finance Corporation (PFC) Announces Rs 5000 Crore Public NCD Issue Opening January 16
New Delhi January 10 2026: Power Finance Corporation Limited has announced the launch of its Tranche One public issue of secured rated listed redeemable non convertible debentures for an aggregate amount of up to Rs 5000 crore. The issue will open for subscription on January 16 2026 and close on January 30 2026.
The company will initially raise Rs 500 crore with an option to retain oversubscription up to Rs 4500 crore. The fundraising is part of its approved shelf limit of Rs 10000 crore. The bonds will be listed on the National Stock Exchange of India.
According to the company the NCDs will offer effective yields ranging from 6.80 percent to 7.30 percent per annum across multiple tenors including 5 years 10 years 15 years and a special one month option. The highest return of 7.30 percent per annum is available on the 15 year cumulative series for retail investors.
The NCDs are fully secured by a first charge on company receivables with security cover of at least 100 percent ensuring strong protection of investor funds. Interest payments will be made annually while investors in the cumulative series will receive returns on maturity.
The issue is open to institutional non institutional high net worth and retail investors. The minimum application amount for most series is Rs 10000 while the zero coupon series carries a higher minimum investment as specified in the prospectus.
Power Finance Corporation stated that the funds raised will be used in accordance with its business objectives and to support lending activities in the power and infrastructure sectors.
The company further informed that the allotment will be approved by the Director Finance and all benefits including interest will be applicable from the deemed date of allotment.
Additional Note: This Tranche One NCD launch comes amid growing investor interest in secure debt instruments, offering competitive fixed-income options in India’s power financing space. Investors are encouraged to review the prospectus for detailed terms and eligibility.