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NTPC has raised ₹500 crore through tax-free bonds through a private placement basis on February 25 with coupon rates of 8.19 per cent, 8.63 per cent and 8.61 per cent for 10,15 and 20 years respectively. This was in addition to ₹1,750 crore the power major raised in December 2013. Meanwhile, the company commissioned the Unit III of 500 MW of Vallur Thermal Power Project of NTPC Tamil Nadu Energy Co. Ltd. – a joint venture of NTPC and TANGEDCO. With this, the total installed capacity of Vallur Thermal Power Project has become 1500 MW.
The board of directors of Jindal Photo has approved to create authorised preference share capital to the tune of ₹48 crore. The board also approved issue of zero per cent redeemable non-convertible preference shares to promoter group companies - Consolidated Finvest and Holdings Ltd and Jindal Photo Investments Ltd - in lieu of conversion of their unsecured loans and other dues in this respect. EGM of shareholders will be held on March 28 to consider these issues.
The engineering & project business unit of Bajaj Electricals Ltd has bagged substation, transmission line and distribution projects worth ₹297.65 crore from Madhya Pradesh Electricity Board under Feeder Separation Scheme/Works. The stock on Friday closed almost flat at ₹245.55.
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