State-run energy conglomerate NTPC Ltd on Thursday said it has pre-closed its public issue of Rs. 700 crore tax-free bonds which was oversubscribed by 11.04 times on the opening day.
“In view of oversubscription, the company is pre-closing the public issue of tax free bonds on September 24, 2015,” it said in a filing with the Bombay Stock Exchange.
In a filing on Wednesday, the power company said: “By the end of Day 1 ie by 5.00 p.m. the issue was oversubscribed by 11.04 times of the base issue size of Rs. 400 crore and 6.31 times of the overall issue size of Rs 700 crore.”
In July this year, the central government had approved the plan to raise Rs 1,000 crore through issuance of tax-free bonds inclusive of Rs.700 crore through public issue.