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The board of NHPC on Tuesday approved a proposal to raise debt of up to ₹2,500 crore during financial year 2019-20 through secured, redeemable, taxable, non-cumulative, non-convertible, taxable, corporate bonds on private placement basis and/or raising of term loans/inter-corporate loans/external commercial borrowings.
The board also decided that out of ₹2,500 crore, debt of up to ₹2,000 crore would be raised in the first tranche and the balance after completion of the exercise for recovery of dues from beneficiaries and monetisation of under-utilised fixed assets. Shares of NHPC slipped 2.28 per cent at ₹23.55 on the BSE.
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