CESC Limited
Incorporated in 1978, CESC Ltd is in the business of generation and distribution of Electricity
What CESC files
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CESC's board committee approved issuing 25,000 Secured NCDs at Rs 1 lakh face value each to Axis Bank through private placement. This raises Rs 250 Cr in debt financing for the company.
CESC's Board committee approved a private placement of 25,000 Secured, Unlisted, Redeemable Non-Convertible Debentures (NCDs), raising Rs 250 Cr. Each NCD has a face value of Rs 1 lakh. Coupon rate is 3 Months T-Bill + 2.60% p.a., with monthly payments. Call/put option after 3 years.
CESC's subsidiary Purvah Green Power (assets ~INR 2,926 Cr) will merge with RPSG Energy Services (assets ~INR 271 Cr). This consolidation of renewable energy assets aims for operational synergies, enhanced cost control, and reduced supply chain risks by integrating module manufacturing.
CESC has announced a board meeting on Monday, August 3, to consider issuing debt securities. This is a key development for the company's future financing and capital structure.
CESC secured Power Purchase Agreements for 600 MW of Grid Connected Wind Solar Hybrid Power Projects. This includes 300 MW from its subsidiary, Purvah Green Power, establishing long-term supply agreements. A significant boost to its renewable energy portfolio.