NTPC Secures Shareholder Nod to Raise Rs 12,000 Crore via NCDs
NTPC, a state-owned power company, has received shareholder approval to raise up to Rs 12,000 crore by issuing non-convertible debentures. Approved at the 48th Annual General Meeting, the funds are aimed at meeting capital expenditure needs through debt financing.
- Country:
- India
State-owned power giant NTPC has secured shareholder approval to raise up to Rs 12,000 crore through non-convertible debentures (NCDs) on a private placement basis.
In a filing to the Bombay Stock Exchange (BSE), the company stated that all resolutions proposed at its 48th Annual General Meeting were passed with the requisite majority.
The board had approved this proposal during its meeting on June 29, 2024, and recommended the passing of a special resolution to raise the funds within the next 12 months. According to the AGM notice, the company is undergoing capacity expansion and requires significant capital expenditure, primarily funded by debt.
The approval allows NTPC's board to offer or invite subscriptions to secured/unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative NCDs in one or more tranches, up to a total of Rs 12,000 crore.
(With inputs from agencies.)
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