NTPC to raise Rs 3000 crore through NCDs

State-owned power giant NTPC announced on Wednesday that it has decided to issue unsecured non-convertible debentures of Rs 3,000 crore on April17, 2023, through private placement basis.

The Company to issue NCDs at a coupon of 7.35% p.a. for a tenor of 3 years, maturing on April 17, 2026.

“The proceeds will be utilized for, inter alia, funding of capital expenditure, refinancing of existing loans and other general corporate purposes”, the company said in a regulatory filing.

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 July 29, 2022 and subsequent approval obtained through shareholders’ resolution dated August 30, 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”, the company added.

On Thursday, at around 11:09 AM, shares of NTPC were trading at Rs174.05 per share lower by 1.02% on the BSE.