The National Hydroelectric Power Corporation (NHPC) successfully raised ₹2,000 crore through a tightly priced bond issue with a coupon rate of 7.67% for a duration of 15 years. The bond issue included a base size of ₹500 crore and a greenshoe option of ₹500 crore, attracting total bids of approximately ₹8,700 crore. This oversubscription highlights the strong institutional demand for high-quality long-duration assets in the Indian bond market. Market experts noted that NHPC's modest annual borrowing requirement allowed it to secure competitive pricing. The bond structure features 10 Separate Transferable Redeemable Principal Parts (STRPPs), enabling staggered principal repayments starting on May 29, 2032, and continuing until May 29, 2041. This structure enhances investor interest by providing flexibility to various types of investors, including insurers and pension funds, who seek specific duration options. Overall, the strong response to NHPC's bond issue underscores the current demand-supply imbalance in India's long-term 'AAA' bond market, with investors willing to take on duration risk for well-rated issuers.