NTPC on Thursday said that it will issue unsecured non-convertible bonds in the nature of debentures of Rs 3,000 crore on 13 September 2021, through private placement basis.
The debentures hold a coupon rate of 6.69% per annum with a maturity of ten years. The proceeds will be utilized for funding of capital expenditure, refinancing of existing loans and other general corporate purposes.The bonds are proposed to be listed on BSE with a bond trust deed executed as per the requirements of and within the period of time prescribed under the companies act.
The bonds are issued under the approval obtained through shareholders' resolution dated 24 September 2020.
NTPC is a Maharatna company operating in the power generation business. The principal business activity of the firm is electric power generation through coal based thermal power plants. . The company reported 16.8% rise in consolidated net profit to Rs 3,443.72 crore on a 14.1% increase in net sales to Rs 29,888.02 crore in Q1 FY22 over Q1 FY21.
Shares of NTPC were trading 0.09% higher at Rs 114.05 on BSE.
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