Solar Energy Corp. of India Ltd (SECI), a renewable energy implementing agency for the Ministry of New and Renewable Energy’s schemes and programmes, has successfully issued and listed its maiden issue of unsecured, rated, non-cumulative, non-convertible, redeemable, taxable debentures on the National Stock Exchange amounting to INR 600 crore.
Reflecting strong investor confidence, the issue received an overwhelming response with 43 bids totaling INR 2,156.75 crore, against the total issue size of INR 600 crore. The Debentures will carry a coupon rate of 7.14% per annum and maturity tenure of 10 years. The same are tradable on the National Stock Exchange.
SECI said it will utilise the proceeds from the debentures to fund capital expenditure of the company towards renewable energy projects, recoupment of capital expenditure already incurred towards renewable energy projects and other general corporate purposes.
This successful issuance will diversify SECI’s funding sources and also reinforces its role in advancing India’s clean energy transition. SECI has demonstrated robust financial growth in FY 2024-25 on standalone basis. It recorded revenue from operations of INR 15,185.10 crore, against INR 13,035.07 crore in FY 2023-24. Profit after tax (PAT) surged to INR 501.92 crore compared to INR 436.03 crore in FY 2023-24.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.