NTPC board approves raising of INR 12,000 crore via bonds, NCDs


State-owned power producer NTPC announced recently that its board has approved a proposal to raise up to INR 12,000 crore ($1,438.23 million) through the issuance of bonds and non-convertible debentures (NCDs).

To finance new and ongoing schemes of expansion, NTPC has made various issues of bonds on both public and private placement basis from time to time. It will issue bonds/NCDs up to INR 12,000 crore through private placement in the domestic market.

In an exchange filing, NTPC said, “[its] Board of Directors has approved the issue of secured/unsecured, redeemable, taxable/taxfree, cumulative/non-cumulative, non-convertible debentures (bonds/NCDs) up to INR 12,000 crore in one or more tranches/series not exceeding 12, through private placement in domestic market during the period commencing from the date of passing of special resolution till completion of one year thereof or the date of next Annual General Meeting in the financial year 2025-26, whichever is earlier.”

“The size, tenure, listing details (Bombay Stock Exchange and/or National Stock Exchange), coupon, security (if applicable) and other details as applicable will be decided at the time of issue of each tranche/series,” it added.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Popular content

Budget 2024-25: India introduces duty on solar glass imports, exempts equipment for solar cell and module manufacturing
23 July 2024 Import of solar glass will attract 10% customs duty from October. Further, the list of exempted equipment for solar cell and panel production has been...