Power Finance Corporation Limited has made a public issue of non – convertible debentures and zero coupon bonds aggregating to ₹1,057.867 million by PFC under the shelf limit of ₹10,000 crore.

Trilegal advised Power Finance Corp and the lead managers, Nuvama Wealth Management Limited, A.K. Capital Services Limited, Trust Investment Advisors Private Limited and Tipsons Consultancy Services Private Limited, on this NCD issuance.

The Capital Markets team advising on the matter was led by Richa Choudhary (Partner) and Murtaza Zoomkawala (Partner); and supported by Avanti Kale (Counsel), Aayush Khandelwal (Senior Associate), Associates Siddhant Mishra, Shambuk Biswas, Nithyashree Venkataraman, Samruddhi Varma and Sakshi Nalawade.

The Corporate Team advising on the matter was led by Ramakant Rai (Partner) and supported by Shradha Sachdev (Counsel), Drishti Kaushik (Associate).

Power Finance Corporation is a Schedule – A Maharatna central public sector enterprise, focused on providing financing services to the power sector entities.

This marks the first ever public debt issuance of zero coupon bonds in India. 

The funds are proposed to be used for onward lending, financing / refinancing the existing indebtedness.

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