HPCL to issue NCDs up to Rs 10,000 cr on private placement basis

New Delhi: Hindustan Petroleum Corporation Limited (HPCL) stated in a regulatory filing on Thursday that it is going to issue "Secured/Unsecured, Redeemable Non-Convertible Debentures/Bonds/Notes up to Rs 10,000 crores on private placement basis in the domestic market and/or in the overseas market." The company received approval from its Board of Directors on Thursday to borrow funds from the capital markets, it added.

"In terms of Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, we write to inform that the
Board of Directors of the Company at its Meeting held on December 15, 2022 approved a
proposal for borrowing through further issuance of Secured/Unsecured Redeemable Non-Convertible Debentures/Bonds/Notes etc up to Rs 10,000 crores on private placement basis
in the domestic market and/or in the overseas market from the date of such approval," stated the company in the filing.

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"It may be noted that the above borrowing of funds is within the overall borrowing powers of the Company for which approval of the Shareholders was already obtained in the 70th Annual General Meeting of the Company held on August 30, 2022," it added.

"The Meeting of the Board of the Directors commenced at 2:30 pm and concluded at
6:10 pm," it added.

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