State-run Power Finance Corp (PFC) has decided to raise up to Rs 4,590 crore through tax free bonds by March next year. The company is planning to garner Rs 5,000 crore by way of issuing tax free securities in the current fiscal 2012-13. Out of the total target, Rs 410 crore has already been raised.
The bonds will be issued in one or more tranches through non-convertible debentures (NCD) route, according to draft prospectus filed with SEBI. The company will utilize these funds for lending purposes, debt servicing and working capital requirements.
PFC provides large range of financial products and services like project term loan, lease financing, direct discounting of bills, short term loan, and consultancy services for various power projects in generation, transmission, distribution sector as well as for renovation and modernization of existing power projects.
| Company Name | CMP |
|---|---|
| Power Finance Corp | 469.10 |
| REC | 373.70 |
| Indian Railway Fin. | 103.90 |
| NHIT | 160.00 |
| Satin Creditcare | 167.50 |
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