×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Nuclear Power scraps planned Rs 1500 cr bond issue

Nuclear Power scraps planned Rs 1500 cr bond issue
Comment E-mail Print Share
First Published: Tue, Nov 22 2011. 02 49 PM IST

File photo of Tarapur Atomic Power Station in Thane district of Maharashtra state (AFP)
File photo of Tarapur Atomic Power Station in Thane district of Maharashtra state (AFP)
Updated: Tue, Nov 22 2011. 02 49 PM IST
Mumbai: Nuclear Power Corp of India (NPCIL) has once again scrapped a planned issue to raise at least Rs 1500 crore via a single tranche bond, three sources with direct knowledge of the deal told Reuters on Tuesday.
The five-year bond with a put/call at the end of 18 months was launched aiming at interest from foreign investors.
File photo of Tarapur Atomic Power Station in Thane district of Maharashtra state (AFP)
The company has scrapped the issue saying the bids came in at higher coupons, the sources said.
NPCIL was planning to raise at least Rs 1500 crore, with a green shoe of up to Rs 500 crore via bonds.
Earlier this month, the company had scrapped a three-tranche bond sale to raise a similar amount for which it had invited bids by 31 Oct.
Most of the bidders bid at 9.80%, much above the company’s hopes of garnering funds in the vicinity of 9.30%, two of the sources said.
Comment E-mail Print Share
First Published: Tue, Nov 22 2011. 02 49 PM IST