State-owned power producer NHPC’s first ever tax-free bonds issue worth Rs.1,000 crore will be open for subscription on October 18.

The public issue of “tax free, secured, redeemable, non-convertible bonds in the nature of debentures of face value of Rs.1,000 each” would amount to Rs.500 crore.

There would be an “option to retain over-subscription” up to Rs.500 crore for issuance of additional bonds, taking the aggregate to Rs.1,000 crore, the company said on Monday.

The issue would open on October 18 and close on November 11. — PTI