Deal: Trilegal advised Power Finance Corporation on INR 10,578.67 million NCD issue

Trilegal advised Power Finance Corporation Limited (“PFC”) and the lead managers on the public issue of non – convertible debentures and zero coupon bonds aggregating to INR 10,578.67 million by PFC under the shelf limit of INR 100,000.00 million.

PFC is a Schedule – A Maharatna central public sector enterprise, focused on providing financing services to the power sector entities. This marks the first ever public debt issuance of zero coupon bonds in India.

The funds are proposed to be used for onward lending, financing / refinancing the existing indebtedness.

The syndicate of lead managers comprises Nuvama Wealth Management Limited, A.K. Capital Services Limited, Trust Investment Advisors Private Limited and Tipsons Consultancy Services Private Limited.

The Trilegal Capital Markets Team advising on the matter was led by Partners: Richa Choudhary and Murtaza Zoomkawala; and supported by Counsel: Avanti Kale; Senior Associate: Aayush Khandelwal; Associates: Siddhant Mishra, Shambuk Biswas, Nithyashree Venkataraman, Samruddhi Varma and Sakshi Nalawade.

The Trilegal Corporate Team advising on the matter was led by Partner: Ramakant Rai; and supported by Counsel: Shradha Sachdev; Associate: Drishti Kaushik.

About Trilegal

Trilegal is a leading full-service law firm in India with over 25 years of experience, trusted for its in-depth expertise and client-centric approach. The firm advises a diverse set of clients, including Fortune 500 companies, global investment funds, major Indian conglomerates, domestic and international banks, technology and media giants, family offices, and high-net-worth individuals. With over 150 partners operating under a distinctive lockstep model, Trilegal is the largest equity partnership in the country. The firm retains over 1,200 professionals across Mumbai, Delhi, Bengaluru, and Gurugram offices.

Trilegal has consistently been recognised among India’s top-tier firms in leading legal directories such as Chambers & Partners (Asia Pacific and Global), Legal 500 Asia Pacific, and Benchmark Litigation. It has also earned several prestigious accolades, including being named Best Overall Law Firm by India Business Law Journal (IBLJ) 2025, Innovative Lawyers in Disputes & Crisis Management by the Financial Times (FT) Innovative Lawyers Asia-Pacific Awards in 2025, M&A Firm of the Year by IFLR Asia-Pacific in 2024, Law Firm of the Year by Deal Volume at the VCCircle Awards in 2024.

For more information, please get in touch with Prakruti Jani | Mob: +91-9867868976 | BD@trilegal.com