NTPC receives approval from shareholders to issue bonds for up to Rs12,000 crore

1 Sep 2022 , 09:18 AM

In order to fund up to Rs12,000 crore through the issue of non-convertible debentures on a private placement basis, NTPC has received the permission of its shareholders. The resolution was approved during the annual general meeting on Tuesday with the required majority.

According to the notice for the AGM, the money to be obtained in one or more tranches (not to exceed 12) would be used for capital expenditures, working capital, and general corporate purposes. Due to the company’s capacity expansion strategy, a large portion of the necessary capital expenditures must be financed by debt. On July 29, 2022, the plan was approved by the corporation’s board.

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