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Jaypee University of Information Technology

THDC India Limited Successfully Raises Rs 763 Crore Through Corporate Bonds Series -VIII

THDC India Limited, a prominent player in the energy sector, has achieved a significant financial milestone by successfully raising Rs 763 Crore through the issuance of THDCIL Corporate Bonds Series -VIII. This accomplishment demonstrates the company’s strong financial standing and operational excellence.

The bonds received overwhelming interest from investors, resulting in an impressive oversubscription of 9 times the base issue size, totaling Rs 2588 Crore. THDCIL Corporate Bonds Series -VIII had a base size of Rs 300 Crore and a green shoe option of Rs 500 Crore, resulting in a total issue size of Rs 800 Crore with a tenor of 10 years.

The funds raised through this bond issuance will be used to partially fulfill the debt requirements of THDC India Limited’s ongoing and under-construction projects, as the company continues to expand its operations in the energy sector.

This achievement reflects the confidence of investors in THDC India Limited’s financial stability. The competitive coupon rate of 7.76% discovered through the BSE–Electronic Bidding Platform further reinforces the trust placed in THDCIL Corporate Bonds. These bonds have received a credit rating of AA “Stable” from both CARE and India Ratings, underscoring the company’s strong creditworthiness.

The bidding for this successful bond issue took place on September 11, 2023, at THDCIL’s Corporate Office in Rishikesh. The event was attended by key officials, including Shri J. Behera, Director (Finance) and CFO, Shri A.B. Goel, ED (Finance), Shri A.K. Garg, GM (Finance), Ms. Rashmi Sharma, Company Secretary, and Ms. Hemlata Agarwal, BSE Head Northern Region, Listing.

THDC India Limited has established itself in Hydro Power Generation and Renewable Energy with a nationwide presence. As a Category-1 Mini Ratna Class–A Central Public Sector Undertaking (CPSU), the company currently operates 1587 MW of energy capacity, including Hydro, Wind, and Solar power, with an additional 1444 MW in hydro capacity and 1320 MW in thermal power under advanced development stages.

To date, THDCIL has issued a total of 8 series of Bonds and has successfully raised funds amounting to Rs. 7013 Crore from the corporate debt market. All of these bond issues have received overwhelming responses from investors, and servicing all series of bonds is running smoothly and on time.

Shri J. Behera, Director (Finance), expressed his gratitude to investors for their unwavering trust in the company’s operational and financial performance, as well as its future growth prospects.

Shri R. K. Vishnoi, Chairman and Managing Director, THDCIL, congratulated the entire THDCIL team for this remarkable achievement. He emphasized the company’s commitment to the National Objective of providing 24×7 affordable power to all. Sh. Vishnoi highlighted THDC India Limited’s dedication to achieving this organizational objective through exponential growth and diversification in all energy sources, including Solar, Wind, Thermal, and Pumped Storage Power (PSP), in addition to Hydro.

This commitment underscores THDCIL’s pivotal role in addressing the energy needs of the nation while maintaining financial stability and operational excellence.

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