NHPC board approves raising up to Rs2,500cr in FY20; stock down 2.5%

The Board also decided that out of Rs2,500cr, debt upto Rs2,000cr be raised in first tranche and balance debt of Rs500cr be raised after the completion of exercise for recovery of dues from beneficiaries and monetization of under-utilised fixed assets, the company said.

Sep 17, 2019 09:09 IST India Infoline News Service

NHPC
Shares NHPC slipped 3% in the last hour of the trading session. The board has approved the proposal for raising of debt up to Rs2,500cr during the financial year 2019-20 through secured, redeemable, taxable, non-cumulative nonconvertible taxable Corporate Bonds in one or more series/tranches on a private placement basis and/or raising of Term loans/Inter-corporate loans / External Commercial Borrowings (ECB).

The Board also decided that out of Rs2,500cr, debt up to Rs2,000cr be raised in the first tranche and balance debt of Rs500cr be raised after the completion of exercise for recovery of dues from beneficiaries and monetization of under-utilised fixed assets, the company said.

NHPC Ltd is currently trading at Rs23.50, down by Rs0.6 or 2.49% from its previous closing of Rs24.10 on the BSE.

The scrip opened at Rs23.80 and has touched a high and low of Rs24.20 and Rs23.30 respectively.

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