CHENNAI: The Tamil Nadu Power Distribution Corporation Limited (TNPDCL) has invited bids from SEBI-registered Category-1 merchant bankers to act as arrangers for raising Rs 10,000 crore through government-guaranteed bonds.
Vishu Mahajan, joint managing director (Finance), told TNIE that the bonds would be issued based on its current financial position. “In 2014 and 2015, we had issued bonds at an interest rate of 9.5%. We expect the same rate this time too,” he said.
The appointment of one or more arrangers, depending on the bids received, is expected to be completed within a couple of months. A senior official said TNPDCL’s debt, which stood at Rs 1.36 lakh crore in 2021, has risen to Rs 1.82 lakh crore in 2025.
“Instead of depending on loans, the discom has decided to raise funds through bonds,” the official said. “This is the first time after bifurcation that such bonds are being issued. We had earlier managed to collect only Rs 500 crore, but we are expecting to raise more now,” he added.