NTPC seeks shareholder approval to raise Rs 120 billion via NCDs
State-owned power giant NTPC will seek shareholder approval to raise up to Rs 120 billion by issuing Non-Convertible Debentures (NCDs) on a private placement basis at its annual general meeting on August 29.
The board of directors approved the proposal on June 29, 2024, recommending the passing of a special resolution to raise the funds over the next 12 months. NTPC is in a capacity expansion mode, and a significant portion of its capital expenditure will be funded through debt. The company aims to offer secured/unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative NCDs in one or more tranches to meet its funding requirements.