Rishikesh, 02 September 2024: THDC India Limited achieved another significant milestone as its Corporate Bond Series XI of Rs. 600 Crore oversubscribed 8 times underscoring its Financial success. Shri R. K. Vishnoi, Chairman and Managing Director, THDCIL, expressed his sincere gratitude to the investors for their overwhelming response to the bond issuance. He added that this accomplishment underscores the confidence of investors in THDCIL’s financial stability and operational performance. The competitive coupon rate of 7.72% p.a. discovered through BSE–Electronic Bidding Platform, further reinforces the trust placed in THDCIL Corporate Bonds.
Additionally, these bonds have received a credit rating of “AA outlook Positive” from India Ratings and “AA outlook Stable” from CARE, emphasizing the company’s robust creditworthiness.
Shri Sipan Kumar Garg, Director (Finance) THDCIL while expressing satisfaction over overwhelming response from the investors informed that the issue comprises of a base size of Rs 200 Crore and a green shoe option of Rs 400 Crore, i.e. total issue size of Rs 600 Crore, with a tenor of 10 years.
The funds raised through this issue will be utilized to partly meet debt requirements of THDCIL’s ongoing and under-construction projects including recoupment of expenditure already incurred and to refinance the existing loans.
He further mentioned that the bonds issue attracted considerable investor interest, leading to a noteworthy oversubscription of approximately 8 times the base issue size, amounting to Rs 1540 Crore.
The bidding for this successful bond issue took place on August 30, 2024 at THDCIL’s Corporate Office in Rishikesh in the presence of Shri Sipan Kumar Garg, Director (Finance), Shri A.K. Garg, CFO, Ms. Rashmi Sharma, Company Secretary, THDCIL and Ms. Hemlata Agarwal, BSE Head Northern Region, Fixed Income.
As of present, THDCIL has issued a total of 11 series of Bonds and has successfully raised funds amounting to Rs. 9142 Crore from the corporate debt market. All of these bond issues have consistently elicited strong investor interest displaying market confidence on THDCIL.
