PFC's Rs 5Kcr bond issue for retail buyers opens today

Mumbai: State-owned Power Finance Corporation (PFC) on Thursday announced the launch of its maiden taxable bond issue of Rs 5,000 crore for individual buyers that will open on January 15, and said it would come out with more such issues going forward.

PFC is planning to raise Rs 10,000 crore through bonds (NCDs) in two tranches. The first tranche of Rs 5,000 crore will open for subscription on January 15 and close on January 29.

Talking to reporters in a press conference to announce the launch of the bond issue, PFC Chairman and Managing Director R S Dhillon said the company is bringing the issue on diversification basis and it would like to do it again going forward.

About raising the entire Rs 10,000 crore during this fiscal only, the PFC chairman said it would be done based on response to the issue of the first tranche.