Dec 05, 2013, 04.38 PM IST
The issue was oversubscribed by 3.3 times on Tuesday as against Rs 1,000 crore, the company has already collected about Rs 3,310 crore, Rs 2,310 crore above the base size.
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NTPC pre-closes Rs 1,750-crore tax-free bond issue today
The issue was oversubscribed by 3.3 times on Tuesday as against Rs 1,000 crore, the company has already collected about Rs 3,310 crore, Rs 2,310 crore above the base size.
Like this story, share it with millions of investors on M3
NTPC pre-closes Rs 1,750-crore tax-free bond issue today
The issue was oversubscribed by 3.3 times on Tuesday as against Rs 1,000 crore, the company has already collected about Rs 3,310 crore, Rs 2,310 crore above the base size.
Also read: NTPC's tax-free bond issue oversubscribed 3.3 times
"The Company has exercised the option of early closure of its public issue of tax-free secured redeemable non-convertible bonds which was opened on December 3 and was scheduled to close on December 16. The issue will now close today," NTPC said in a regulatory filing to the stock exchanges.
The issue was oversubscribed by 3.3 times on Tuesday as against Rs 1,000 crore, the company has already collected about Rs 3,310 crore, Rs 2,310 crore above the base size.
This is the state-run company's first bond issue after a gap of over 20 years.
Under the offer, the company issued tax-free secured redeemable non-convertible bonds.
The base issue size aggregates to Rs 1,000 crore with an option to retain over-subscription up to Rs 750 crore for issuance of additional bonds, aggregating up to Rs 1,750 crore.
The funds raised through the issue would be utilized towards funding of capital expenditure and refinancing for meeting the debt requirement in ongoing projects.
ICICI Securities, A K Capital Services, Axis Capital, SBI Capital Markets and Kotak Mahindra Capital Company were the book-running lead managers of the issue.
Currently, NTPC has a capacity of over 42,000 MW and targets to add about 14,000 MW to its total capacity by the end of 2016-17. Shares of NTPC were trading at Rs 144.90 apiece, down 0.38 percent on the BSE.
NTPC stock price
On December 05, 2013, NTPC closed at Rs 144.05, down Rs 1.4, or 0.96 percent. The 52-week high of the share was Rs 167.25 and the 52-week low was Rs 122.65.
The company's trailing 12-month (TTM) EPS was at Rs 14.55 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 9.9. The latest book value of the company is Rs 97.49 per share. At current value, the price-to-book value of the company is 1.48.
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