NHPC Limited raises Rs 500 crore via bonds

New Delhi: NHPC Limited, a premier hydropower company and a Miniratna PSU under the Ministry of Power, on Wednesday said that it has raised Rs 500 crore through private placement basis.

"NHPC Limited has raised Rs 500 crore on March 3, 2020, through the private placement of secured, redeemable, taxable, non-cumulative, non-convertible 6.
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89 percent NHPC AA-1 Series Bonds," the state-run Power PSU said during the regulatory filing to the stock exchange on Wednesday.

In another statement, NHPC said that it has signed a memorandum of understanding (MoU) with CCI Limited on Wednesday for exploring possibilities for cement requirement for 2,880 MW Dibang Multipurpose Project.

NHPC Limited

NHPC Limited, formerly known as National Hydroelectric Power Corporation Limited, was incorporated on November 7, 1975, as a Central government enterprise for the development of hydropower. It is a Miniratna PSU under the administrative control of the Ministry of Power. NHPC Limited, a premier hydropower company and a Miniratna PSU under the Ministry of Power. The company had paid an interim dividend of Rs 840.96 crore to the government for the financial year 2019-20.

"NHPC Limited has raised Rs 500 crore on March 3, 2020, through the private placement of secured, redeemable, taxable, non-cumulative, non-convertible 6.89 percent NHPC AA-1 Series Bonds,"- NHPC

NHPC Limited has achieved its highest-ever electricity (Power) generation by generating 24,209 million units (MUs) (up to February 23) in the current year (FY2019-20). NHPC has thus, surpassed its previous year (FY 2018-19) generation of 24,193 MUs. This is the highest-ever generation by NHPC since its incorporation in November 1975.