Power tariffs are seen rising by 20-25 paise per unit as CCEA has now allowed power companies to pass on higher imported coal cost, the move is also seen as positive REC and PFC, says HD Khunteta, Former Dir-Finance, REC and Chairman, Altius Finserv.
"NIMs are very much sustainable, because we are growing at the rate of more than 30 percent. Our NIMs this quarter was 5.01 percent," said Rajeev Sharma, CMD, REC in an interview to CNBC-TV18.
Rural Electrification Corporation (REC) is issuing public tax free bonds, the first of its kind in the country. Rajeev Sharma, CMD, REC shares details with CNBC-TV18 post its first public issue this year.
State run power company Rural Electrification Corporation has received finance ministry‘s nod to garner USD 1 billion through optionally convertible foreign currency convertible bonds (FCCBs).
Speaking to CNBC-TV18, HD Khunteta, director of finance at Rural Electrification Corporation says that the company is planning on raising USD 1 billion through FCCB and USD 500 million through the ECB route.
Director finance of Rural Electrification Corpration, HD Khunteta tells CNBC-TV18 that as per current estimates, the interest rate for their tax free bond issue will be around 7.95-8.10%
Rural Electrification Corporation (REC) has reduced its guidance for full year growth in disbursements from 25% to 16%.
The company would come out with the second tranche and subsequent issues if it receives good response for the first tranche.
Rural Electrification Corporation tells CNBC-TV18 that it is looking at raising USD 450 million through bond issues and syndicate loans.