REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power, has successfully listed two bonds at the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), A single bond has 10-year maturity worth ₹ 2,500 crores, a 7.47% yield, and a redemption date of February 28, 2034. The other one has a value of ₹ 2,875 crores, a yield of 7.64%, and a maturity period of 3 years, 2 months. The redemption date is April 30, 2027.
The proceeds of this issue will be used for ongoing business operations, as the money raised through this private placement is not intended for any particular project. IRPL has rated these bonds IND AAA, and ICRA has rated them ICRA AAA.
Chief Managing Director, REC Limited, Mr. Vivek Kumar Dewangan said the successful listing of these bonds’ underscores REC Limited’s commitment to innovation and financial prudence. “We are dedicated to leveraging these funds to further our mission of empowering India through sustainable power and Infrastructure solutions,” he said.
REC is a ‘Maharatna’ Central Public Sector Enterprise under the Ministry of Power and is registered with RBI as Non-Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC).
REC Ltd. continues to play a key strategic role in the flagship schemes of the Union government for the power sector and has been a nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last-mile distribution system, 100% village electrification and household electrification in the country.
REC has also been made the nodal agency for certain states and Union Territories for the Revamped Distribution Sector Scheme (RDSS).
