NTPC to Raise Rs 18,000 Crore Through Private Placement

State-run NTPC's board has approved raising up to Rs 18,000 crore through non-convertible debentures. The proposal involves a private placement in the domestic market. The approval will be sought from shareholders through a postal ballot, targeting a completion within one year.

State-run power giant NTPC announced its board's approval to raise up to Rs 18,000 crore by issuing non-convertible debentures through private placement in the domestic market. This significant move was decided in a board meeting held on Saturday.

The board also approved a draft notice for a postal ballot that will seek shareholder approval for this initiative. The regulatory filing stated that this route will allow NTPC to issue these debentures in one or more series over the next year.

The company has fixed the cut-off date for reckoning members entitled to receive the postal ballot notice and voting rights, set for the preceding Friday. The issuance will not exceed 12 tranches during the approved period.