Incorporate in 1986, Power Finance Corporation Limited (PFC) is one of the leading financial institutions in India. It is focused on the power sector. PFC works with Government of India (GoI) agencies, state governments, power sector utilities, other power sector intermediaries, and private sector clients for the development and implementation of policies and structural and procedural reforms in the power sector in India.
PFC is registered with the RBI as a non-deposit taking systemically important NBFC. PFC was granted the “Navratna” status by the GoI in 2007.
PFC provides a range of financial products and other services including:
Services ranging from project conceptualization to the post-commissioning stage, including generation (conventional and renewable), transmission and distribution projects, and related renovation and modernization projects;
Various forms of fund-based assistance, including long-term project finance, short-term loans, buyers’ lines of credit, underwriting of debt, and debt refinancing schemes;
Various forms of non-fund based assistance including default payment guarantees, credit enhancement guarantees, and letters of comfort; and
Various fee-based technical advisory and consultancy services for power sector projects through our wholly-owned subsidiary PFC Consulting Limited.
Power Finance Corp NCD January 2021 Detail
| Issue Open | Jan 15, 2021 – Jan 18, 2021 |
| Security Name | Power Finance Corporation Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 500.00 Crores |
| Issue Size (Shelf) | Rs 4,500.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | ‘CARE AAA; Stable’ by CARE; ‘CRISIL AAA / Stable’ by CRISIL; and ‘[ICRA]AAA(Stable)’ by ICRA. |
| Tenor | 3. 5, 10 and 15 years |
| Series | |
| Payment Frequency | |
| Basis of Allotment | First Come First Serve Basis |
Coupon Rates
| Tenure | 3Years | 5Years | 10 Years | 10Years | 10 Years | 15 Years | 15Years |
| Series | I | II | III | IV | V | VI | VII |
| Frequency of Interest Payment | Annual | Annual | Quarterly | Annual | Annual | Quarterly | Annual |
| Coupon for Category I and II | 4.65% | 5.65% | 6.63% | 6.80% | Benchmark FIMMDA 10Yr G-Sec (Annualised) 80 BPS | 6.97% | 7.15% |
| Coupon for Category III and IV | 4.80% | 5.80% | 6.82% | 7.00% | Benchmark FIMMDA 10Yr G-Sec (Annualised) 80 BPS | 6.97% | 7.15% |
| Redemption Amount (Rs/NCD) | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 |
| Redemption Date | 3 Years | 5 Years | 10 Years | 10 Years | 10 Years | 15 Years | 15 Years |
| Effective Yield (% per annum) for Category I and II | 4.65% | 5.65% | 6.79% | 6.80% | 6.95% | 6.95% | |
| Effective Yield (% per annum) for Category III and IV | 4.80% | 5.80% | 6.99% | 7.00% | 7.15% | 7.15% |
Power Finance Corporation NCD
| Nature | Secured |
| Minimum Application | 10 NCDs (₹10,000) (across all options of NCDs) |
| In multiples, of | 1 NCD after the minimum application |
| Face Value of NCDs (₹/NCD) | ₹1,000 |
| Issue Price (₹/NCD) | ₹1,000 |
| Put and Call Option | Not Applicable |
Company Promoters:
The President of India, acting through and represented by Ministry of Power, Government of India.
Objects of the Issue:
The objects of the issue are:
For the purpose of onward lending, financing / refinancing the existing indebtedness of our Company, and/or debt servicing (payment of interest and/or repayment / prepayment of interest and principal of existing borrowings); and;
General corporate purposes.
Registrar & Company Details
| Company Contact Information | Power Finance Corp NCD January 2021 Registrar |
| Power Finance Corporation Limited Urjanidhi, 1, Barakhamba Lane, Connaught Place, New Delhi 110 001 Phone: +91 11 2345 6000 Email: publicissue20@pfcindia.com Website: https://www.pfcindia.com/ | KFintech Private Limited KFintech, Tower-B, Plot No 31 & 32, Financial District, Nanakramguda, Gachibowli, Hyderabad, Telangana India – 500 032. Phone: 04067162222, 04079611000 Email: pfc.ncd2020@kfintech.com Website: https://karisma.kfintech.com/ |
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