Power Finance Corporation Limited has informed regarding Disclosure of PUBLIC ISSUE BY OF SECURED, RATED, LISTED, REDEEMABLE, NON-CONVERTIBLE DEBENTURES OF FACE VALUE OF Rs. 1,000 EACH FOR AN AMOUNT AGGREGATING UP TO 500 CRORES
PFC · price
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Power Finance Corporation Limited (PFC) is launching a public issue of secured, rated, listed, redeemable NCDs with a base size of ₹500 crores, with an option to retain oversubscription up to ₹4,500 crores, aggregating to a Tranche I limit of ₹5,000 crores under a broader shelf limit of ₹10,000 crores. The issue opens on January 16, 2026 and closes on January 30, 2026, and will be listed on NSE. NCDs are offered across 5 series with tenors of 5, 10, 10 years 1 month, and 15 years, carrying coupon rates between 6.85% and 7.30% per annum (effective yields 6.80%–7.30%) depending on series and investor category. The NCDs are secured by a first pari-passu charge on the company's book debts/receivables, maintaining at least 100% security cover, and in case of default an additional 2% p.a. interest is payable.
This is a debt-raising move by PFC, a government-owned financial institution, to expand its lending capital. The NCD issuance is unlikely to dilute equity shareholders but adds to the company's overall borrowings. For retail investors, the issue offers fixed-income exposure with moderate yields (6.85%–7.30%) backed by PFC's sovereign-like credit profile.