PFC looking to build an infrastructure portfolio: Parminder Chopra, director-finance

economictimes.indiatimes.com:

After receiving approval last year to finance infrastructure projects, state-owned Power Finance Corporation is looking to venture into funding ports, airports, refineries, and metros in addition to its traditional lending to utilities. The power financier has also earmarked 20% of its borrowing for foreign markets and will be exploring US dollar, euro and yen-denominated issuances, said Parminder Chopra, director-finance in an interview with ET. Edited excerpts:Your ongoing issue is the first public issue launched since January 2021. What prompted it now and can we expect more such issues this year? In 2021 we took a significant step and decided to make the public at large to be a partner in the growth story of the Indian power sector.

We were the first public sector company to launch a public issue of NCDs. The simple idea was to let everyone participate, we are looking forward to the energy transition and that will satisfy all the investors who are part of the growth story. With respect to future issuances, it all depends on the market conditions and also the appetite and response of the investors.

For this particular issue, this is the first tranche. Rs 500 crore is the base issue size with an option to retain Rs 4,500 crore as a greenshoe option. So, depending on the response, we will take a further call.Last year, PFC was permitted to finance infrastructure projects. How much has been disbursed on that front and what can we expect in the current year? Our primary focus in any case is on the power sector and energy transition.