NTPC board to raise up to Rs12,000 crore through NCDs; Stock under pressure

1 Aug 2022 , 10:55 AM

NTPC Limited stocks will be in focus as the Board approved the raising of funds through issue of Non-Convertible Debentures.

As per the regulatory filing, the Board of Directors of the Company have, subject to the approval of the shareholders, approved issue of secured/ unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures up to Rs12,000 crore in one or more tranches/series not exceeding 12, through private placement in domestic market during the period commencing from the date of passing of Special Resolution till completion of one year thereof or the date of next Annual General Meeting in the financial year 2023-24 whichever is earlier, the company said.

At around 10:56 AM, NTPC was trading at Rs152.35 per share down by Rs0.6 or 0.39% from its previous closing of Rs152.95 per share on the BSE.