New Delhi: In a regulatory filing on Saturday, state-owned NTPC informed the bourses that its board has approved raising funds via issuing secured/ unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures ("Bonds/NCDs") up to Rs 12,000 crores in one or more tranches/series not exceeding 12. Further, it said that the NCDs will be issued through private placement in the domestic market.
The flexibility offered by the proposal allows NTPC to issue Bonds/NCDs in multiple tranches/series over a period starting from the date of passing a special resolution until the completion of one year or the date of the next Annual General Meeting in the financial year 2024-25, whichever is earlier. The size, tenure, listing details (potentially on BSE and/or NSE), coupon rates, and applicable security measures will be determined at the time of the issuance of each tranche/series.
By opting for secured or unsecured, redeemable, taxable or tax-free, cumulative or non-cumulative, non-convertible debentures, NTPC aims to optimise its financing strategy while catering to the diverse needs and preferences of potential investors. This approach underscores the company's commitment to maximising shareholder value and maintaining financial stability.
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