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NTPC in process to lift Rs. 15,000 cr via bonds

Shareholders nods for NTPC request to issue bonds, in order to raise Rs 15000 crore.
BY BEx Bureau
BusinessEx
Aug 22, 2017

NTPC shareholders agreed to issue non-convertible debentures in order to raise Rs 15,000 crore on private placement basis. The company plans to use the raised funds for working capital requirement, capital expenditure, and to meet other operations requirements in the domestic market.

The special resolution is listed on the agenda of the annual general meeting scheduled for September 20, NTPC said in a BSE filing today.

According to the company statement, the power supplier aims to raise Rs. 15,000 crore via non-convertible debentures up to Rs. 15,000 crore in one or more tranches or series not exceeding 30, through private placement, in the domestic market for capital expenditure, working capital, and other general requirements.

Besides, the shareholders would consider a proposal to confirm payment of interim dividend and declare a final dividend for 2016-17.

The company has already paid an interim dividend of Rs. 2.61 per share and has recommended a final one of Rs. 2.17 for 2016-17, which is 143% of the amount paid last year.

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