NTPC to raise Rs 500 crore via non-convertible debentures

State-run power giant NTPC will raise Rs 500 crore through the issuance of non-convertible debentures on a private placement on Friday.

"NTPC has decided to issue unsecured non-convertible debentures of Rs 500 crore on December 16, 2022, through private placement at a coupon of 7.44 per cent per annum with a door to door maturity of 10 years 3 months 30 days on April 15, 2033," a BSE filing stated.

The proceeds will be utilized for, inter alia, funding of capital expenditure, refinancing of existing loans and other general corporate purposes, it stated.

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 of time prescribed under the Companies Act and rules specified therein. Also read- Poonawalla Fincorp sells housing arm to TPG for Rs 3,900 crore 

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 first issue of debentures under the mentioned approval, the filing stated.

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