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NHPC ask for shareholder's approval to secure Rs. 2,000 cr via NCDs

To secure Rs 2000 crore NHPC plans to issue non-convertible debentures on a private placement basis but in order to do that the company waiting for shareholder’s approval.
BY BEx Bureau
Aug 22, 2017

The special resolution proposes to authorise the board to raise Rs. 2,000 crore via secured/unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures/bonds, in one or more series/tranches, aggregating through private placement, in the domestic market, NHPC said in a BSE filing.

Besides, the shareholders would also consider the proposal for a final dividend at the rate of 1% on the paid-up equity share capital. That is 10 paise per equity share.

The board at its meeting held on May 30, 2017, had recommended a final dividend @1% (Re 0.10 per equity share) on the paid-up equity share capital of the company for 2016 17, excluding interim dividend @17% (Rs 1.70 per equity share) paid in January 2017.

The board will also consider a proposal to amend its articles of association of the company so that the board shall have the power to carry out consolidation and re-issuance of its debt securities issued through private placement after compliance of necessary conditions, if any, prescribed under the Act or by regulatory authorities including SEBI, RBI, etc.

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