Stocks

NHPC board okays plan to raise ₹2,500 cr

| Updated on September 17, 2019 Published on September 17, 2019

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.

Published on September 17, 2019
This article is closed for comments.
Please Email the Editor