Power Finance Corporation’s (PFC) inaugural public non-convertible debenture (NCD) issue is a good bet for retail investors, who will now benefit from a alternative investment avenue with a better return and varied strengths, its chairman and CEO, Ravinder Singh Dhillon said Thursday.
PFC’s first NCD tranche with a base issue size of ₹ 500 crore and a green shoe option of ₹ 4,500 crore (total of ₹ 5,000 crore) will open on January 15 and close on January 29. It may be recalled that PFC had previously filed a shelf prospectus with a limit of up to ₹ 10,000 crore. Up to 80 percent of the NTM issue is allocated to individuals and high net worth individuals.
Speaking to a virtual press conference to announce the initiation of the NTM issue, Dhillon said the offer stands out as retail investors – who currently have very few attractive investment opportunities – can benefit from interest rates as high as 7.15% (for a period of 15 years on NTMs). even during …
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