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Tax-free bonds of NTPC have been oversubscribed 7.25 times

On Thursday, the state owned NTPC said that its tax-free bonds have been oversubscribed 7.25 times.

The company said in a statement that the “Tax Free bonds of NTPC Ltd gets stupendous response… The issue got an overwhelming response and was oversubscribed by 7.25 times across the different tenures.”

It further said that the company targeted raising Rs 300 crore through the bonds but the bids were received for Rs 2,175 crore for placing the bonds on private placement route.

“NTPC has decided to retain subscription for 10 years of maturity at the coupon rate of 7.15 percent p.a.,” it said.

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