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Web Exclusive | February 2018

NTPC lists $6-billion MTN at India INX to raise funds from investors

State-owned thermal power giant, NTPC has listed $6 billion (about Rs 40,000 crore) medium-term note (MTN), a debt instrument on India International Exchange at IFSC, GIFT City (India INX). With this, NTPC has become India's first quasi-sovereign company to list at India INX. Company officials said the listing will help NTPC raise funds at lower costs from international investors and also allow foreign investors to access good quality Indian debt paper. "For the first time in India, we have the opportunity to reach out to international investors to raise funds using a wide variety of products and currencies, in a similar manner, as available in other international markets," said Gurdeep Singh, Chairman and Managing Director, NTPC Ltd. India INX is country's first listing destination for issuers from India and the region. It has a turn-around time of 4micro seconds and operates for 22 hours a day to allow international investors and Non-Residents Indians to trade from anywhere across the globe. It is located in IFSC, GIFT City, Gujarat and went live on 8 December 2017.

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