|Chennai||Rs. 24470.00 (1.37%)|
|Mumbai||Rs. 24900.00 (0.97%)|
|Delhi||Rs. 24200.00 (1.26%)|
|Kolkata||Rs. 24160.00 (0%)|
|Kerala||Rs. 24000.00 (0.63%)|
|Bangalore||Rs. 23800.00 (0%)|
|Hyderabad||Rs. 24140.00 (1.17%)|
SINGAPORE, Jan 30 (IFR) - State-owned NHPC will open its three-tranche issue of up to INR15bn (USD280m) today at 10am India time for bidding. The company has invited 16 arrangers to bid for the sale which will close at 3pm India time on January 31.
NHPC is offering the bonds in the separately transferable redeemable principal parts format.
The first tranche will have bonds maturing between two and 13 years with a base size of INR540m along with a greenshoe of INR360m. The second tranche, maturing in three to 14 years, has a base size of INR3bn and greenshoe of INR1.08bn.
The third tranche with maturities of between six and 15 years has a base size of INR6.46bn besides a greenshoe of INR3.56bn.
Bankers said the bonds could get priced in the range of 8.80%-8.85%. Insurance companies and EPFO are likely investors in the sale of the bonds, which are locally rated Triple A by India Ratings and Icra.
Shortlisted banks which will bid for the issue are Axis Bank, AK Capital Services, Almondz Global Securities, Darashaw & Co, HDFC Bank, ICICI Bank, IDFC, ING Vysya Bank, I-Sec PD, Edelweiss Financial Services, Kotak Mahindra Capital Co, SPA Capital Advisors, Trust Investment Advisors, LKP Securities, SBI Caps and Yes Bank.