NTPC board approves proposal to raise up to Rs 15,000 crore via NCDs

NEW DELHI: State-run power giant NTPC Ltd today said its board has approved a proposal to issue debentures for raising up to Rs 15,000 crore.

" The Board, in its meeting held on Friday, July 29, 2016 has considered and approved issue of secured/ unsecured, redeemable, taxable/tax-free, cumulative/ non-cumulative, non-convertible debentures ("bonds/NCDs") up to Rs 15,000 crore," NTPC said in a regulatory filing.

According to the statement, the funds would be raised during the period commencing from the date of passing of Special Resolution in the annual general meeting, to be held on September 20, 2016, till completion of one year thereof or the date of next annual general meeting in the financial year 2017-18 whichever is earlier.