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Torrent Power has sought shareholders’ approval to raise up to ₹1,500 crore through issuance of non-convertible debentures on private placement basis.
As per a BSE filing, the company is seeking shareholders’ nod for issuance of NCDs by way of offer or invitation, to raise up to ₹1,500 crore on a private placement basis to Qualified Institutional Buyers, banks other than scheduled commercial banks, companies, corporates, among others.
Shareholders’ approval has also been sought to declare dividend of Rs 5 per share on equity shares for 2018-19.
The decisions will taken at the company’s annual general meeting scheduled for August 5, 2019.
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