NTPC to raise Rs500 crore via NCDs; Stock trades higher

NTPC has decided to issue unsecured non-convertible debentures of Rs500 crore on December 16, 2022, through private placement at a coupon of 7.44% p.a. with a door to door maturity of 10 years 3 months 30 days on April 15, 2033.

The proceeds will be utilized for, funding of capital expenditure, refinancing of existing loans and other general corporate purposes and the debentures are proposed to be listed on BSE.

"Debenture Trust Deed 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 said.

These debentures are being issued under the recommendation of board resolution dated 29.07.2022 and subsequent approval obtained through shareholders’ resolution dated 30.08.2022, it further added.

At around 9:18 AM, NTPC Ltd is currently trading at Rs173.45 per share up by Rs1.5 or 0.87% from its previous closing of Rs171.95 per share on the BSE.