NTPC to issue NCDs for Rs. 3000 crores

NTPC has decided to issue unsecured non-convertible debentures of Rs.3,000 crore on 17.04.2023, through private placement at a coupon of 7.35% p.a. for a tenor of 3 years, maturing on 17.04.2026.

The proceeds will be utilized for, inter alia, funding of capital expenditure, refinancing of existing loans and other general corporate purposes.

The debentures are proposed to be listed on NSE.

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.

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.

This is the second issue of debentures under the above mentioned approval. In the first issue, debentures aggregating to Rs.500 crore were issued.

Shares of NTPC Limited was last trading in BSE at Rs. 175.85 as compared to the previous close of Rs. 178.05. The total number of shares traded during the day was 584394 in over 3531 trades.

The stock hit an intraday high of Rs. 178.20 and intraday low of 175.40. The net turnover during the day was Rs. 103031580.00.

Source : Equity Bulls

Keywords

NTPC INE733E01010 FundRaising NCDs