State-owned NTPC Ltd said that it will raise Rs 15000 crore by issuing non-convertible debentures on private-placement basis.
"The Board, in its Meeting held on July 29, 2016 has considered and approved the issue of secured/ unsecured, redeemable, taxable/ tax-free, cumulative/ non-cumulative, non-convertible debentures (Bonds/NCDs ) upto Rs. 15,000 crore," the company said in a filing to the Bombay Stock Exchange.
According to the statement, the funds would be raised during the period commencing from the date of passing of Special Resolution in the Annual General Meeting, to be held on September 20, 2016, till completion of one year thereof or the date of next Annual General Meeting in the financial year 2017-18 whichever is earlier.
Meanwhile, shares of the company were trading at Rs 159.70 apiece, up 0.22 per cent from the previous close at 11:10 hours on BSE.