THDC India Limited has reached a new milestone as its Corporate Bonds Series XII, valued at Rs. 700 Crore, received an overwhelming response from investors, being oversubscribed nearly eight times. This achievement underscores the company’s strong financial standing and market confidence.
Shri R. K. Vishnoi, Chairman and Managing Director of THDCIL, expressed gratitude to the investors for their enthusiastic participation in the bond issuance. He emphasized that this overwhelming response reflects the investors’ trust in THDCIL’s financial prudence and its exemplary operational performance over the years.
Further bolstering market confidence, THDCIL recently announced the Commercial Operation Date of Unit #1 of the 1320 MW Khurja Super Thermal Power Plant on January 25, 2025, marking a monumental achievement for the company.
Shri Sipan Kumar Garg, Director (Finance) and CFO, highlighted the immense interest in the bond issue, which consists of unsecured, redeemable, non-convertible, non-cumulative, taxable bonds in the form of debentures. The issue featured a base size of Rs. 200 Crore and a green shoe option of Rs. 500 Crore, bringing the total issue size to Rs. 700 Crore, with a tenor of 10 years.
These bonds have been issued to partly finance the debt requirements of ongoing and under-construction projects, recoup expenditure already incurred, and refinance existing loans.
THDCIL currently holds an “AA Positive” rating from India Ratings and an “AA Stable” rating from CARE, reinforcing its strong credit profile and financial stability.
The bidding for Series XII Bonds took place on February 14, 2025, at THDCIL’s Corporate Office in Rishikesh, in the presence of key officials, including Shri A.K. Garg, GM; Shri Himangshu Chakraborty, AGM (Finance-Budget); Ms. Rashmi Sharma, Company Secretary, THDCIL; and Ms. Hemlata Agarwal, BSE Head Northern Region, Fixed Income.
The competitive coupon rate of 7.73% per annum was determined through bidding on the BSE Electronic Bidding Platform. The oversubscription by eight times at a competitive interest rate reaffirms the market’s trust in THDCIL Corporate Bonds.
To date, THDCIL has successfully issued 12 series of bonds, raising a total of Rs. 9842 Crore from the corporate debt market. Each issuance has garnered significant investor interest, reflecting sustained confidence in the company’s financial strength and growth trajectory.
