NHPC raises ₹2,000 crore via 7.67% bonds maturing 2041
NHPC Limited successfully raised ₹2,000 crore via the private placement of 7.67% AI Series Bonds 2041 on May 29, 2026. The 15-year unsecured bonds will be listed on the BSE and NSE, with principal repayments starting in the sixth year.
*this image is generated using AI for illustrative purposes only.
NHPC Limited raised ₹2,000 crore on May 29, 2026, through the private placement of 7.67% AI Series Bonds 2041. The unsecured, non-convertible, taxable bonds carry a coupon rate of 7.67% per annum and have a tenor of 15 years, maturing on May 29, 2041. The securities are proposed to be listed on the Wholesale Debt Market segment of BSE and NSE.
The issuance comprises 200,000 securities of ₹1,00,000 each. Principal repayment is structured to occur annually from the expiry of six years from the deemed date of allotment in 10 equal installments of ₹200 crore each. The bonds are non-cumulative and redeemable.
Issue Details
| Particulars | Details |
|---|---|
| Type of securities | Listed Unsecured, Non-cumulative, Non-convertible, Redeemable, Taxable Bonds (AI Series 2041) |
| Type of issuance | Private placement |
| Total amount | ₹2,000 Crore |
| Coupon rate | 7.67% p.a. |
| Tenor | 15 Years from the date of allotment |
| Date of Allotment | 29.05.2026 |
| Date of Maturity | 29.05.2041 |
| Listing | Wholesale Debt Market (WDM) segment of BSE and NSE |
Amortization Schedule
The principal repayment will begin at the end of the sixth year. The schedule for the Special Tenured Redeemable Preferential Periods (STRPP) is outlined below:
| STRPP | Year | Redemption Date | Principal Amount |
|---|---|---|---|
| STRPP A | Year 6 | 29.05.2032 | ₹200 crore |
| STRPP B | Year 7 | 27.05.2033 | ₹200 crore |
| STRPP C | Year 8 | 29.05.2034 | ₹200 crore |
| STRPP D | Year 9 | 29.05.2035 | ₹200 crore |
| STRPP E | Year 10 | 29.05.2036 | ₹200 crore |
| STRPP F | Year 11 | 29.05.2037 | ₹200 crore |
| STRPP G | Year 12 | 29.05.2038 | ₹200 crore |
| STRPP H | Year 13 | 27.05.2039 | ₹200 crore |
| STRPP I | Year 14 | 29.05.2040 | ₹200 crore |
| STRPP J | Year 15 | 29.05.2041 | ₹200 crore |
Interest payments will be made yearly on the respective due dates. The effective yield is uniform for all categories of investors, and the day count convention is actual/actual.
Historical Stock Returns for NHPC
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.24% | -0.79% | -5.24% | +2.50% | -9.57% | +202.18% |
How will the proceeds from this ₹2,000 crore issuance be allocated towards NHPC's upcoming capital expenditure projects?
What impact will this long-term debt have on NHPC's credit metrics and interest coverage ratios over the next decade?
How does the 7.67% coupon rate compare to current market yields for similar tenor AAA-rated bonds in the power sector?
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