NTPC seeks shareholders' nod to raise Rs 12,000 cr via issuance of NCDs

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NTPC seeks shareholders' nod to raise Rs 12,000 cr via issuance of NCDs - Business Standard

Quick Summary:

"The board of directors of the company in its meeting held on 29th June, 2024 has approved the proposal and recommends the passing of the proposed special resolution (for raising up to Rs 12,000 crore in next 12 months)," the AGM notice of NTPC stated.

State-owned power giant NTPC will seek shareholders approval to raise up to Rs 12,000 crore through issuance of Non-Convertible Debentures (NCDs/bonds) on a private placement basis in its annual general meeting on August 29.

The notice further said that the company is under capacity expansion mode, and a major portion of its capital expenditure requirement has to be funded by debt.