NHPC Limited to issue Tax-Free Bonds worth Rs. 1000 crore

The Board of Directors of NHPC Ltd at its meeting held on October 10, 2013 approved the Prospectus relating to the public issue of tax free bonds of Rs. 1000 Crs, to be filed with Registrar of Companies. The public issue of tax free bonds is being made under the Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008, as amended and pursuant to Notification dated August 08, 2013 issued by the Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India ("CBDT Notification"). The issue is proposed with issue opening on October 18 2013. Issue will have tenor & rates as per notification dated August 08, 2013 referred above. The tax free bonds have been rated "[ICRA] AAA, IND "AAA" and CARE "AAA" by ICRA Limited, India Rating Research Private Limited and Credit Analysis & Research Limited, respectively.

Shares of NHPC Limited was last trading in BSE at Rs.19.10, down by Rs.0.10 or 0.52%. The stock hit an intraday high of Rs.19.45 and low of Rs.19.05.

The total traded quantity was 8.07 lakhs as compared to 2 week average of 7.91 lakhs.

Source : Equity Bulls

Keywords