iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

PFC and IRFC to raise ₹3,500 Crore through bond issuance.

13 Feb 2024 , 02:28 PM

According to the sources, the Indian Railway Finance Corporation (IRFC) and Power Finance Corporation (PFC) intend to issue bonds worth up to ₹3,500. The bonds each have a ten-year maturity.

Up to ₹3,000 Crore will be raised by IRFC, including ₹2,500 Crore in greenshoe, and up to ₹500 Crore by PFC, including ₹400 Crore in greenshoe. 

An underwriting agreement's 'greenshoe option' gives the underwriter the authority to sell investors more bonds than the issuer had originally intended in the event that investor demand for a security issue exceeds expectations.

The PFC bond auction will be held on February 13 from 10:30 a.m. to 11:30 a.m. on the BSE's electronic bidding site. Meanwhile, the BSE's bidding platform will host the IRFC bond auction on February 14 from 10 to 11 a.m.

The PFC and IRFC bonds have pay-in dates of February 15 and 16, respectively. Both have received a 'AAA' rating from ICRA, CRISIL, and CARE.

Bond sales took place on February 12 for Canara Bank, Tata Capital Ltd, Piramal Capital & Housing Finance Ltd, and Spandana Sphoorty Financial Ltd. With Basel-III compliant Additional Tier-1 bonds offering an 8.40 % interest rate, Canara Bank was able to raise ₹2,000 Crore.

Canara Bank plans to raise a total of ₹2,000 Crore, of which ₹1,500 Crore will come from oversubscription.

For feedback and suggestions, write to us at editorial@iifl.com

IRFC posts 9% jump in net profit for 9month period ended 31st December 2022

Related Tags

  • bonds
  • IRFC
  • PFC
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Most Read News

Awfis IPO oversubscribed 4.19x on day two
23 May 2024|09:51 PM
Indian markets end the day on high
23 May 2024|03:59 PM
Markets surge

Markets surge

Whatsapp
Facebook
Twitter
LinkedIn
23 May 2024|03:45 PM
MG Motor India to supply 3000 EVs to Vertelo
23 May 2024|03:46 PM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.