PFC’s Rs 50 billion bonds issue oversubscribed

February 12, 2021

PFC Limited’s Rs 50 billion taxable non-convertible debentures (NCDs) issue was over-subscribed nearly nine times and closed for subscription 11 days ahead of the schedule. The first tranche of Rs 50 billion, including Rs 45 billion green-shoe option, opened for subscription on January 15, 2021 and was scheduled to close on January 29, 2021. The issue had to be closed on January 18, 2021, the second day of trading, due to oversubscription on the Bombay Stock Exchange (BSE). According to the BSE data, subscribers applied for 44,776,348 bonds or NCDs of Rs 1,000 each against 5 million bonds (with 45 million NCDs under the green-shoe option) on offer.