 "NTPC scraps bond sale after sell-off in government bonds")
NTPC, India's largest power producer, scrapped its bond sale scheduled for Thursday after a sell-off in government bonds caused worries about the pricing of its debt, four sources with direct knowledge of the bond sale said.
The firm was planning to raise up to Rs 1,000 crore through an issue of dual tranche bonds.
Trading in government bonds was halted earlier in the day after yields hit their upper circuits on a global riskoff following the Federal Reserve's comments on tapering of its stimulus programme. The trading band has subsequently been removed for the day.
The benchmark 10-year government bond rose as much as 10 bps from its previous close. It was last trading at 7.33%. Corporate bonds in India are priced on the government bond yield curve.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app