REC lists bonds worth ₹5,375 crore on NSE and BSE
The first bond, with a 10-year maturity, is valued at ₹2,500 crore and boasts a yield of 7.47%, set to mature on February 28, 2034.
The first bond, with a 10-year maturity, is valued at ₹2,500 crore and boasts a yield of 7.47%, set to mature on February 28, 2034.
ICRA forecasts a substantial rise in the contribution of RE, including large hydro, to India's total electricity generation, from about 23% in FY2024 to 40% by FY2030.
Given that the solar modules for these projects are to be sourced from domestic solar module manufacturers, this would boost their order book position
"The current under-construction thermal capacity is about 30 GW, which is predominantly in the Central and the state-owned generation segment and is expected to be commissioned over the next two to four-year period," Girishkumar Kadam, Senior Vice President & Group Head - Corporate Ratings, ICRA, said in the statement.
his improvement is attributed to the recent reduction in crude oil prices, leading to a stable outlook for the refining and marketing sector.
Ritabrata Ghosh, Vice President - Corporate Ratings & Sector Head at ICRA, emphasizes that China currently dominates 65% of the lithium processing/ refining industry, an area where India lacks a foothold.
Join our panelists and moderator Sabyasachi Majumdar, Senior Vice President & Group Head at ICRA, for an engaging conversation on "City Gas Distribution: Next Growth Frontier for India's Natural Gas Sector."
This upswing is a direct result of the state distribution utilities' (discoms) increased focus on replacing conventional meters with smart meters under the Revamped Distribution Sector Scheme (RDSS) launched by the Government of India in July 2021.
The company has accepted bids worth 8.09 billion rupees ($97.37 million) on the bond issue for which it had invited bids earlier in the day. In December, IREDA raised 10 billion rupees via 10-year bonds at a 7.68% coupon.
Despite these challenges, ICRA maintains a stable outlook on the sector, driven by an expected domestic demand growth of around 10% over the next two fiscal years, significantly outpacing global demand growth rates.
"IREDA has the approval ready and we may not be surprised if it comes this week as well, or else they may hit in the first week of January," one of the bankers said.