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27-Jan2017

NTPC surges on raising 500 million Euro through overseas bonds sale

NTPC is currently trading at Rs. 173.40, up by 2.25 points or 1.31% from its previous closing of Rs. 171.15 on the BSE.

The scrip opened at Rs. 173.00 and has touched a high and low of Rs. 174.00 and Rs. 172.25 respectively. So far 81875 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 176.30 on 18-Jan-2017 and a 52 week low of Rs. 116.80 on 25-Feb-2016.

Last one week high and low of the scrip stood at Rs. 174.90 and Rs. 169.30 respectively. The current market cap of the company is Rs. 142811.44 crore.

The promoters holding in the company stood at 69.74%, while institutions and non-institutions held 28.13% and 2.12% respectively.

NTPC has raised 500 million Euro through overseas bonds sale that perhaps the first longest tenor euro-denominated issuance by an Indian company. The company got bids for $2.4 billion, or nearly five times the targeted size, through euro-denominated bonds sale with 10-year maturity, the longest in the currency. Securities have been priced at 200 basis points over Euro Treasury.

This is the first-ever 10-year Euro denominated bond issuance by an Asian utility issuer and also the first-ever 10-year EUR transaction by an Indian issuer. The 10-year bond has been issued at a coupon of 2.75 per cent with a yield of 2.814 per cent. The company will use the issue proceeds for capex.

NTPC is an Indian central Public Sector Undertaking (PSU) under the Ministry of Power, Government of India, engaged in the business of generation of electricity and allied activities.


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