NTPC to seek shareholders' nod to raise up to Rs 15,000 crore via bonds
New Delhi: NTPC will seek shareholders’ nod to raise up to Rs 15,000 crore through bonds in the annual general meeting scheduled for next month.
The funds are proposed to be raised on a private placement basis in one or more tranches not exceeding 30, according to the company’s notice for the annual general meeting (AGM), scheduled for September 24.
The special resolution for AGM proposes to make offers or invitations to subscribe to the secured/unsecured, redeemable, taxable/tax-free, cumulative/ non-cumulative, non-convertible debentures up to Rs 15,000 crore, the notice said. The funds would be raised for capital expenditure, working capital, and general corporate purposes, in the domestic market.
The firms have also sought approval to amend the Memorandum of Association to provide focus on new business segments like e-mobility, waste-to-energy, manufacturing of value-added products from fly ash, gypsum, etc.
