India New Issue-NHPC accepts bids for STRPP bonds, bankers say

NHPC

02/05/2025 08:40

MUMBAI, May 2 (Reuters) - India's NHPC NHPC.NS has accepted bids worth 19.45 billion rupees ($231.6 million) for separately transferable redeemable principal part (STRPP) bonds with six-to-15-year maturities, three merchant bankers said on Friday.

The state-run hydroelectric power company will pay an annual coupon of 6.86% and had invited coupon and commitment bids from bankers and investors earlier in the day, they said.

NHPC did not reply to a Reuters email seeking comment.

  Here is the list of deals reported so far on May 2:

Issuer
Tenure
Coupon (in %)
Issue size (in bln rupees)*
Bidding date
Rating
NHPC
15 years
6.86
19.45
May 2
AAA (Crisil, India Ratings)
IREDA
5 years and 1 month
7.00
15
May 2
AAA (Icra, India Ratings)
HUDCO
5 years
6.90
21.90
May 2
AAA (Icra, India Ratings)

*Size includes base plus greenshoe for some issues

($1 = 83.9850 Indian rupees)

 (Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)

 ((Dharamraj.dhutia@tr.com))