THDC India Limited has achieved a major milestone with the oversubscription of its Corporate Bond Series XI of Rs. 600 Crore by 8 times, highlighting its financial strength. Shri R. K. Vishnoi, Chairman and Managing Director of THDCIL, expressed gratitude to investors for their strong response to the bond issue, noting that it reflects confidence in the company’s financial stability and operational performance. The bond’s competitive coupon rate of 7.72% per annum, determined through the BSE–Electronic Bidding Platform, further underscores the trust in THDCIL’s bonds.
The bonds have received a “AA outlook Positive” credit rating from India Ratings and a “AA outlook Stable” rating from CARE, affirming the company’s strong creditworthiness. Shri Sipan Kumar Garg, Director (Finance) at THDCIL, shared his satisfaction with the response, stating that the issue consisted of a Rs. 200 Crore base size with a Rs. 400 Crore green shoe option, totaling Rs. 600 Crore, and has a tenor of 10 years.
The funds raised will be used to partially meet the debt requirements for THDCIL’s ongoing and under-construction projects, cover expenditures already incurred, and refinance existing loans. The bond issue attracted significant investor interest, leading to an oversubscription of approximately 8 times the base issue size, totaling Rs. 1540 Crore.
The bidding took place on August 30, 2024, at THDCIL’s Corporate Office in Rishikesh, with key officials in attendance. To date, THDCIL has issued 11 series of bonds, raising a total of Rs. 9142 Crore from the corporate debt market, consistently drawing strong investor interest and demonstrating market confidence in the company.
