NEW DELHI, AUG 31, 2022
India’s largest energy conglomerate NTPC Ltd has got shareholders’ approval to raise up to Rs 12,000 crore through issuance of non-convertible debentures (NCD) on private placement basis.
A resolution to this effect was passed with requisite majority in the annual general meeting of the company held on Tuesday.
The funds to be raised in one or more tranches (not exceeding 12) will be used for capital expenditure, working capital and general corporate purposes.
As NTPC is in capacity expansion mode, major portion of the capital expenditure requirement has to be funded by debt.