Team News Riveting
Raipur, July 31
National Thermal Power Corporation (NTPC), country’s largest power producer, would raise Rs 18,000 crore through issuance of non-convertible bonds.
“The Board of Directors of the Company have, subject to the approval of the shareholders, approved issue of secured/unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures (“Bonds/NCDs”) up to Rs.18,000 Crore in one or more tranches/series not exceeding 30 (thirty) , through private placement in domestic market during the period commencing from the date of passing of Special Resolution till completion of one year thereof or the date of next Annual General Meeting in the financial year 2022-23 whichever is earlier,” NTPC said in a regulatory filing.
The proceeds are likely to be utilized for funding of capital expenditure, refinancing of existing loans and other general corporate purposes.
NTPC posted a nearly 17 per cent rise in consolidated net profit to Rs 3,443.72 crore in the first quarter of financial year 2021-22 on the back of higher revenues. The consolidated net profit of the company in the corresponding period of last year, was Rs 2,948.94 crore. Total income in the quarter rose to Rs 30,390.60 crore from Rs 26,794.68 crore in the same period of the year.
Present installed capacity of NTPC Group is 66,885 MW (including 13,425 MW through JVs/Subsidiaries) comprising of 47 NTPC Stations (23 Coal based stations, 7 gas based stations, 1 Hydro station, 1 small hydro, 14 Solar PV and 1 Wind based Station) and 26 Joint Venture stations (9 coal based, 4 gas based, 8 hydro, 1 small hydro 2 Wind and 2 Solar PV).
