New Delhi-based public sector undertaking, NTPC, on Wednesday, said its board will take a call on raising funds via Non-convertible Debentures (NCDs) worth up to Rs 12,000 crore on June 24, 2023.
In an exchange filing, the state-owned company said, “A meeting of the Board of Directors of the company is scheduled to be held at New Delhi on Saturday, June 24, 2023, to, inter-alia, consider for issue of secured/ unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures (‘Bonds/NCDs’) up to Rs.12,000 crore.”
Furthermore, the fundraising will be subject to approval of shareholders in the ensuing Annual General Meeting (AGM), NTPC added.
Last month, NTPC reported its Q4 earnings. Its profit almost remained flat at Rs 5,672 crore against Rs 5,618 crore in the same quarter last year. However, the revenue spiked by 20 percent to Rs 41,317.9 crore as opposed to Rs 34,358 crore in the same quarter last year.
Meanwhile, the company saw a contraction of 430 basis points in its margin, which came in at 26.9 percent against 31.2 percent in the same quarter last year.
Also, in May, NTPC signed an agreement with Nuclear Power Corporation of India (NPCIL) for joint development of nuclear power plants.
In April, NTPC announced that it would issue unsecured NCDs worth Rs 3,000 crore via private placement on April 17. During the same period, Tata Power DDL inked a pact with NTPC Vidyut Vyapar Nigam for hydro power supply.
Also Read: NTPC, Chempolis India ink pact to explore feasibility of bamboo-based bio-refinery in Bongaigaon
First Published: Jun 21, 2023 8:03 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Elections 2024 | How critical is Phase-5 for both NDA and I.N.D.I.A
May 20, 2024 7:30 AM
Lok Sabha Election Phase 5 Voting Live Updates: Leaders, actors among early voters as 49 seats poll today
May 20, 2024 6:34 AM