THDC India’s Rs. 700 Crore Corporate Bonds Series XII to be Listed on BSE and NSE on 18th February 2025

Rishikesh, 15th February 2025: THDC India Limited (THDCIL) has achieved a significant milestone with the successful issuance of its Corporate Bonds Series XII, amounting to Rs. 700 Crore. The bond issuance saw an overwhelming response from investors, with the issue being oversubscribed by nearly eight times, underscoring the company’s strong financial standing and robust market confidence.

Shri R. K. Vishnoi, Chairman and Managing Director of THDCIL, expressed his gratitude towards the investors for their enthusiastic participation in the bond issue. He noted that the substantial over-subscription is a clear indication of the market’s confidence in THDCIL’s financial prudence, operational excellence, and its continued commitment to growth and sustainability. The confidence in THDCIL has been further solidified with the announcement of the Commercial Operation Date for Unit #1 of the 1320 MW Khurja Super Thermal Power Plant on 25th January 2025, marking a key achievement for the company.

Shri Sipan Kumar Garg, Director (Finance) and CFO of THDCIL, elaborated on the details of the bond issuance. The bonds are unsecured, redeemable, non-convertible, non-cumulative, and taxable in nature, with a base size of Rs. 200 Crore and an additional green shoe option of Rs. 500 Crore, making the total issue size Rs. 700 Crore. The bonds come with a 10-year maturity period. He further explained that the proceeds from this issuance would be used to partly meet the debt requirements of ongoing and under-construction projects, including recouping already incurred expenditure and refinancing existing loans.

Currently, THDCIL holds a strong credit rating of “AA outlook Positive” from India Ratings and “AA outlook Stable” from CARE Ratings, further enhancing its financial credibility and stability. The Series XII bond issue, which took place on 14th February 2025 at THDCIL’s Corporate Office in Rishikesh, saw a competitive coupon rate of 7.73% per annum, which was determined through the BSE Electronic Bidding Platform. This competitive rate, combined with the significant oversubscription, highlights the strong market trust in THDCIL’s corporate bonds.

Since its inception, THDCIL has successfully issued 12 series of bonds, raising a total of Rs. 9842 Crore from the corporate debt market. The company’s bonds have consistently attracted substantial interest from the market, reflecting sustained investor confidence in its financial health and operational performance.

The Series XII bonds will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on 18th February 2025, marking another significant step in THDCIL’s efforts to strengthen its financial base and fund its future growth initiatives.

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