IFCI Ltd to tap Rs 2,000 crore via NCDs

IFCI Ltd to tap Rs 2,000 crore via NCDs

 IFCI Limited, a company promoted and controlled by the government of India, on Tuesday said that it is planning to raise up to Rs 2,000 crore by selling bonds through a public issuance of non-convertible debentures or NCDs with maturities of five, seven and 10 years. 

The issue is open and will be available for subscription till November 21. 

The core issue size is Rs 250 crore with an oversubscription option of Rs 1,750 crore.

The NCDs are rated “BWR AA- (Outlook: Stable)” by Brickwork Rating India Private Limited. Instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk. 

The NCDS are rated “[ICRA]A (Stable)” by ICRA Limited. Instruments with this rating are considered to have the adequate degree of safety regarding timely servicing of financial obligations. 

The NCDs are proposed to be listed on the BSE and NSE.

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