Rishikesh: THDC India Limited (THDCIL), a premier Schedule-A, Mini Ratna Public Sector Undertaking (PSU) under the Ministry of Power, Government of India, has announced that its Corporate Bonds Series XIII, amounting to ₹600 crore, will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on July 23, 2025.
Competitive Bidding Reflects Market Trust
The bidding for the Series XIII bonds was successfully conducted at THDCIL’s Corporate Office in Rishikesh on July 18, 2025, through the BSE’s Electronic Bidding Platform. A highly competitive coupon rate of 7.45% per annum was discovered through market-driven bidding.
The bond issue witnessed a massive oversubscription—11 times the base size, signifying overwhelming investor interest and confidence in THDCIL’s robust financial standing and operational efficiency.
Structure and Features of Series XIII Bonds
According to Mr. Sipan Kumar Garg, Director (Finance) and CFO of THDCIL, the issue consisted of unsecured, redeemable, non-convertible, non-cumulative, taxable bonds in the form of debentures.
- Base size: ₹200 crore
- Green shoe option: ₹400 crore
- Total issue size: ₹600 crore
- Tenor: 10 years
This structure provides flexibility to both the issuer and investors, with long-term returns backed by THDCIL’s solid credit profile.
Leadership Speaks on Investor Confidence
Mr. R.K. Vishnoi, Chairman & Managing Director, THDCIL, expressed gratitude to the investors and stakeholders for their continued support. He stated:
“The successful completion of Bond Series XIII reflects the strong confidence of investors in THDCIL’s robust fundamentals, prudent financial management, and consistent operational performance.”
He further emphasized that the funds raised will support the company’s ongoing strategic and infrastructure projects, strengthening THDCIL’s position in India’s evolving energy sector.
Read Also: THDCIL’s HRD Centre in Rishikesh Recognized as ‘Centre of Excellence’ by SHRM India
Presence of Senior Officials and Market Observers
The bidding session was conducted in the presence of key officials, including:
- Mr. Sipan Kumar Garg, Director (Finance) & CFO, THDCIL
- Mr. A.K. Garg, GM (Finance)
- Mr. Himangshu Chakraborty, AGM (Finance-Budget)
- Ms. Rashmi Sharma, Company Secretary
- Ms. Hemlata Agarwal, Head, Northern Region – Fixed Income, BSE
Their presence underscores the transparency and integrity of the bidding process.
Credit Ratings Highlight Financial Stability
THDCIL’s strong market reputation is supported by its consistent credit ratings:
- “AA Outlook Positive” from India Ratings
- “AA Outlook Stable” from CARE Ratings
These affirmations signal THDCIL’s financial resilience and responsible debt management.
A Legacy of Successful Bond Issues
THDCIL has a well-established history in the corporate debt market. With the issuance of Series XIII, the company has now raised a cumulative total of ₹10,442 crore through 13 series of bonds, all of which have generated strong investor interest.
About THDCIL
THDCIL is a leading power sector Public Sector Enterprise (PSE) and a consistently profitable company. It was established in July 1988 as a public limited company under the Companies Act, 1956, to develop, operate, and maintain the Tehri Hydro Power Complex. THDCIL is now a subsidiary of NTPC Limited, with NTPC holding a 74.496% stake and the Government of Uttar Pradesh holding the remaining 25.504%, according to THDCIL’s website.
