IndiGrid NCD issue opens; chance to lock in 8.2% yield on safest paper
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NEW DELHI: The public issue of non-convertible debt (NCD) securities by IndiGrid, an infrastructure investment trust that owns a number of assets in the power sector, opened for subscription on Wednesday. The NCD promises up to 8.2 per cent interest per annum, a considerably high yield on a paper with highest rating in a low interest rate environment. This issue has been rated AAA/Stable by Crisil and ‘AAA/Stable’ by India Ratings.
The securities will be allocated on a first come-first served basis. QIBs and NIIs will be allocated 10 per cent each of the total issue size and HNIs and retail investors will be allocated 40 per cent each.