NTPC has become India’s first quasi-sovereign enterprise to list at India INX
GN Bureau | February 2, 2018
Country’s largest power producer NTPC has listed its USD 6 billion (around Rs 40,000 crore) medium-term note (MTN) programme on India International Exchange at IFSC, GIFT City (India INX).
With this, NTPC has become India’s first quasi-sovereign enterprise to list at India INX. The listing was done on January 24 on the Global Securities Market of India INX; India’s first international exchange.
It will help NTPC raise funds at lower costs from international investors and also allow foreign investors to access good quality Indian debt paper.
“This is NTPC’s first listing at India International exchange and we are very happy to be part of India INX at IFSC, GIFT city. Now, for the first time in India, we have the opportunity to reach out to international investors to raise funds using a wide variety of products and currencies, in a similar manner, as available in other international markets. We are excited with this new development and look forward to partnering with India INX in years to come,” NTPC CMD Gurdeep Singh said.
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