Power Finance Corporation Limited (PFC) has announced a public issue of secured, rated, listed, redeemable, non-convertible debentures (NCDs) with a base issue size of ₹500 crores and an option to retain oversubscription up to ₹4,500 crores, aggregating to a total of ₹5,000 crores. This Tranche I Issue is within the company's shelf limit of ₹10,000 crores.

The Tranche I Issue will open for subscription on Friday, January 16, 2026, and will close on Friday, January 30, 2026. The NCDs are proposed to be listed on the National Stock Exchange of India (NSE).

The company has approved the Shelf Prospectus and the Tranche I Prospectus dated January 09, 2026, which have been filed with the Registrar of Companies, Delhi and Haryana, and submitted to the Securities and Exchange Board of India (SEBI), and the NSE. The NCDs will be secured by a first pari-passu charge through hypothecation of book debts/receivables. Details regarding tenor, interest rates, and redemption vary across different series of NCDs, with tenors ranging from 1 month to 15 years.