Rishikesh, 15-02-2025
THDC India Limited achieved another milestone as its Corporate Bonds Series XII of Rs. 700 crore, which was oversubscribed by almost 8 times, highlighting its Financial success. R. K. Vishnoi, Chairman and Managing Director, THDCIL, expressed his appreciation to the investors for their ecstatic response to the Bonds issuance. He added that this is a testament to the confidence of investors in THDCIL’s financial prudence and its stellar operational performance over the years.
He also highlighted that the market confidence has been further enhanced due to the monumental achievement of the announcement of the Commercial Operation Date of the 1320 MW Khurja Super Thermal Power Plant on 25 January 2025.
Shri Sipan Kumar Garg, Director (Finance) and CFO, THDCIL while noting the tremendous reaction from the market informed that the issue comprises of unsecured, redeemable, non-convertible, non-cumulative, taxable Bonds in the nature of debentures, with a base size of Rs 200 Crore and a green shoe option of Rs 500 Crore, i.e. total issue size of Rs 700 Crore, with a tenor of 10 years.
He also informed that this series of debentures have been issued to partly meet debt requirements of ongoing and under-construction projects, including recoupment of expenditure already incurred and to refinance the existing lans.
The Company is currently rated as “AA outlook Positive” from India Ratings and “AA outlook Stable” from CARE, emphasizing the company’s financial stability and strong credit profile.
The bidding for the Series XII Bonds issue took place on February 14, 2025 at THDCIL’s Corporate Office in Rishikesh in the presence of 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% p.a. was discovered through bidding on BSE–Electronic Bidding Platform. The issue was oversubscribed by 8 times with competitive interest rate, which further reinforces the trust placed in THDCIL Corporate Bonds.
As of present, THDCIL has issued a total of 12 series of Bonds and has successfully raised funds amounting to Rs. 9842 Crore from the corporate debt market. All of the Bonds issued by THDCIL have generated significant market interest, reflecting sustained market confidence in the company.
