Power Finance Corporation lists $750 million MTN issue on India INX

New Delhi: BSE-owned India International Exchange (India INX) on Monday said it has listed state-owned Power Finance Corporation Ltd's global notes worth $750 million on its debt listing platform.

The maiden issue is part of the company's global medium term note (MTN) programme to raise up to $5 billion in overseas borrowings through debt-instrument, the release said. The notes under the programme have been issued at a coupon rate of 3.95 per cent.

"The growing volumes of listing on India INX further helps Government of India's vision of making IFSC a hub for Indian and global issuers and investors and reiterates our world class listing practice," said MD and CEO of India INX V, Balasubramaniam.

India INX is the country's first debt listing platform that allows raising funds in any currency of choice by both foreign and Indian issuers from investors across the globe.

Since the launch of global securities market, medium-term notes worth $46.5 billion and bonds worth $20.1 billion have been listed on the platform so far, it added.

India INX is India's first International Exchange set up at Gujarat International Finance Tech-City (GIFT City).

In a separate media release, Central Depository Services Ltd (CDSL) said it has so far opened over 2 crore demat accounts.

CDSL is currently the largest depository in the country in terms of active demat accounts and currently accounts for 67 per cent of the new accounts added in 2019-20, it added.