Sunday, June 26, 2022

NTPC to raise Rs 4,374 crore via non-convertible bonds

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New Delhi: NTPC Limited, India’s largest power producer, is set to raise Rs 4,374.10 crore on April 16 through the private placement of unsecured non-convertible bonds in the nature of debentures. This information was shared by NTPC Limited in a regulatory filing to the stock exchanges on Monday.

The fund will be raised at a coupon of 6.55 percent per annum with a door-to-door maturity after three years and one day. "The proceeds will be utilised for, inter alia, funding of capital expenditure, refinancing of existing loans and other general corporate purposes. The bonds are proposed to be listed on both NSE and BSE. Bond Trust Deed for these bonds will be duly executed as per the requirements of and within the period of time prescribed under, the Companies Act and rules specified therein," the company added. "These bonds are issued under the approval obtained through shareholders’ resolution on August 21, 2019," the regulatory filing said.

NTPC Limited

NTPC Limited, formerly known as National Thermal Power Corporation Limited, is an Indian public sector undertaking engaged in the business of generation of electricity and allied activities. NTPC Limited is India’s largest energy conglomerate with roots planted way back in 1975 to accelerate power development in India. It is a company incorporated under the Companies Act 1956 and is promoted by the government of India. The present installed capacity of NTPC Limited is 62,110 MW (including 11,755 MW through JVs and subsidiaries) comprising of 70 NTPC stations (24 coal-based stations, 7 combined cycle gas and liquid fuel based stations, 2 hydro based station, 1 wind-based station), 25 Joint Venture stations (9 coal-based and 4 gas based) and 12 renewable energy projects.

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