State-run NTPC ltd's bond issue was oversubscribed 2.8 times in just 10 minutes on Monday after hitting the market, raising a total of Rs 1,000 crore, which would be used for capital expenditure. “NTPC's bond issue oversubscribed by 2.8 times in 10 minutes on Monday,” the company said in a statement.
The company had called for offers to subscribe to its 60th series of NCDs for an amount of Rs 500 crore with a greenshoe option of another Rs 500 crore on a private placement basis. As per the the statement, bids amounting to Rs 1,400 crore were received from 7 applicants.