State-owned power giant NTPC will on Friday raise Rs 1,500 crore by issuing non-convertible debentures (NCDs) on a private placement basis. ”NTPC has decided to issue unsecured non-convertible debentures of Rs 1,500 crore on 29 April 2022, through a private placement at a coupon of 5.78 per cent per annum with a door to door maturity of 2 years on 29 April 2024,” a BSE filing said.
According to the filing, the proceeds will be utilised for, inter alia, funding of capital expenditure, refinancing of existing loans and other general corporate purposes.
The debentures are proposed to be listed on BSE.
Debenture Trust Deed will be duly executed as per the requirements of and within the period prescribed under the Companies Act and rules specified therein.
These debentures are issued under the approval obtained through shareholders’ resolution on September 28, 2021.
Source : bloombergquint
