NTPC Limited set to raise Rs 5 billion via issuance of non-convertible debentures

NTPC Limited is set to raise Rs 5 billion through the issuance of unsecured non-convertible debentures (NCDs) on private placement.

The NCDs will have a coupon of 7.44 per cent per annum, with a door-to-door maturity of 10 years 3 months 30 days on April 15, 2033. The proceeds from the transaction will be used for inter alia, funding capital expenditure, refinancing existing loans, and other general corporate purposes. The NCDs will reportedly be listed on BSE. Debenture Trust Deed will be duly executed as per the requirements of and within the period of time prescribed under the Companies Act and rules specified therein. These debentures will be issued under the recommendation of the board resolution issued on July 29, 2022 and subsequent approval obtained through the shareholders’ resolution dated August 30, 2022. This is the first issue of debentures under the above-mentioned approval.