NTPC to raise Rs 1,175 cr via NCDs on Dec 20

NTPC on Thursday said it will raise Rs 1,175 crore on December 20, 2021 through issuance of unsecured non-convertible debentures (NCDs) on private placement basis.

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

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"NTPC has decided to issue unsecured NCDs of Rs 1,175 crore on 20 December, 2021, through private placement at a coupon of 6.74 per cent per annum with a door-to-door maturity of 10 years 3 months 25 days on 14 April 2032," it said in a regulatory filing.

The bonds are proposed to be listed on NSE. Bond Trust Deed for these bonds will be duly executed as per the requirements of and within the period prescribed under the Companies Act and rules specified therein.

These bonds are being issued under the approval obtained through shareholders' resolution dated September 28, 2021, it stated.