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NTPC (formerly National Thermal Power Corporation), a Maharatna company of the central government, will offer tax-free secured redeemable non-convertible bonds that opens on 3rd December 2013 and will close on or before 16th December 2013. NTPC is the largest power producer in India in terms of both installed capacity and generation, with aggregate installed capacity of 41,184 MW (including 35,820 MW through directly owned units and 5,364 MW through subsidiaries and joint ventures), representing market share of 18.44 percent of India's total installed capacity as on March 31, 2013.
NTPC will offer better rates for 10 and 15 years than NHPC bonds that received overwhelming response in the recent past. The rate for 20 years is almost unchanged. NTPC coupon rates for retail individual investors will be 8.66%, 8.73% and 8.91% for 10, 15 and 20 year bonds. It has been assigned AAA rating by ICRA and CRISIL. A K Capital Services Limited, Axis Capital Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited and SBI Capital Markets Limited are the lead managers to the issue. Karvy Computershare Private Limited is a registrar. The bonds will be listed on BSE and NSE.
NTPC issue size is Rs 1,000 crore with an option to retain oversubscription up to Rs 750 crore for issuance of additional bonds, aggregating to up to Rs 1,750 crore. Each bond is of a face value of Rs. 1000 each and minimum application is to be made for 5 bonds and in multiples of 1 bond thereafter. The Bonds will be issued in both physical mode (other than to investors who are eligible QFIs as detailed in the Prospectus. However, trading will take place in demat form only.
A better rated Tax Free bonds worth grabbing.
Review By Dilip Davda on December 12, 2019
DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published here. Any reader taking decisions based on any information published here does so entirely at own risk. Investors should bear in mind that any investment in stock markets are subject to unpredictable market related risks. Above information is based on RHP and other documents available as of date coupled with market perception. Author has no plans to invest in this offer.
(SEBI registered Research Analyst-Mumbai).
About Dilip Davda
Dilip Davda is veteran journalist associated with stock market since 1978. He is contributing to print and electronic media on stock markets/insurance/finance since 1985.
Dilip Davda is a leading reviewer of public issues and NCDs in the primary stock market in India. The knowledge he gained over 3 decades while working in the stock market and a strong relationship with popular lead managers makes his reviews unique. His detail fundamental and financial analysis of companies coming up with IPO helps investors in the primary stock market. Dilip Davda has a special interest in analyzing the SME companies and writing reviews about their public issues. His reviews are regularly published online and in news papers.
Email: dilip_davda@rediffmail.com
The NTPC Ltd NCD Analysis helps you to understand about the company, offer detail, valuation, capital structure and financial performance. Our SEBI registered NCD Analysts tells you if NTPC Ltd NCD worth investing. The NTPC Ltd NCD Note sets the NCD expectations in systematic way which tells you if NTPC Ltd NCD good to buy (good or bad / yes or no). The NCD Forecast tells you weather to invest in NTPC Ltd NCD by providing NCD recommendations i.e. subscribe, avoid and neutral.
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