HPCL said that the coupon rate will be 6.63 percent per annum for the debt instruments, which will mature on April 11, 2031
Shares of HPCL were last trading on BSE at Rs 251.6 apiece, marginally higher when compared to the previous close of Rs 245.65
New Delhi: State-run Hindustan Petroleum Corporation Ltd (HPCL) said on Friday that it has raised Rs 1,950 crore in debt for funding of capital expenditure, including recoupment of expenditure already incurred. In a regulatory filing to the stock exchanges, HPCL said, “… we write to inform you that the Company had issued Un-secured, Redeemable, Non-Convertible, NonCumulative, taxable, Debenture of Rs.10,00,000/- Each aggregating to Rs.1,950 Crores on private placement basis on 07-05-2021 (for) Funding of capital expenditure of the Issuer, including recoupment of expenditure already incurred.”
Coupon rate for HPCL’s Non-convertible debentures will be 6.63%
HPCL said that the coupon rate will be 6.63 percent per annum for the debt instruments, which will mature on April 11, 2031. Shares of HPCL were last trading on BSE at Rs 251.6 apiece, marginally higher when compared to the previous close of Rs 245.65. The total number of shares traded during the day was 3,32,164 in over 4,194 trades. The stock hit an intraday high of Rs 252.55 and intraday low of Rs 240.9. The net turnover during the day was Rs 8,23,96,428.
For FY21, HPCL’s spending exceeded its capex target of Rs 11,500 crore as the figure settled at Rs 14,036 crore. All the three state-run oil marketing PSUs — HPCL, Bharat Petroleum Corporation Ltd (BPCL) and Indian Oil Corporation (IOC) — exceeded the capex targets for the previous financial year. In the wake of the slowdown induced by the COVID-19 pandemic, the Centre had asked PSUs to step-up spending in order to stimulate economic recovery. The capex spending by PSUs for FY21 was being reviewed regularly by Finance Minister Nirmala Sitharaman and monitored by the Department of Public Enterprises (DPE).
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