Stocks

NTPC to raise ₹4,374 cr via bonds

 

NTPC Ltd will raise ₹4,374.10 crore on Thursday (April 16) through a private placement of unsecured non-convertible bonds in the nature of debentures.

A company statement said the amount will be raised at a coupon of 6.55 per cent per annum with door-to-door maturity after three-years-and-one day. “The proceeds will be utilised for, inter alia, funding of capital expenditure, refinancing of existing loans and other general corporate purposes. The bonds are proposed to be listed on both the NSE and the BSE,” the statement added.

The bonds are being issued following the approval obtained through a shareholders’ resolution on August 21, 2019, it further said. Our Bureau

 

Published on April 13, 2020

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