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State-run hydro power giant NHPC will seek shareholders’ approval to raise Rs 2,000 crore via issuance of non-convertible debentures on a private placement basis.
The special resolution proposes to authorise the board to raise Rs 2,000 crore via secured/unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures/bonds, in one or more series/tranches, aggregating through private placement, in the domestic market, NHPC said in a BSE filing today.
Besides, the shareholders would also consider the proposal for final dividend at the rate of 1 per cent on the paid-up equity share capital. That is 10 paise per equity share.
The board at its meeting held on May 30, 2017, had recommended a final dividend @1% (Re 0.10 per equity share) on the paid-up equity share capital of the company for 2016—17, excluding interim dividend @17% (Rs 1.70 per equity share) paid in January 2017.
The board will also consider a proposal to amend its articles of association of the company so that the board shall have power to carry out consolidation and re-issuance of its debt securities issued through private placement after compliance of necessary conditions, if any, prescribed under the Act or by regulatory authorities including SEBI, RBI, etc.
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