NTPC Plans To Raise Rs 12,000 Crore Through NCDs

NTPC Ltd., in its annual general meeting, will seek approval from shareholders to raise up to Rs 12,000 crore through the issuance of non-convertible debt on a private placement basis.

The state-owned power giant will raise Rs 12,000 crore in one or more tranches through secured or unsecured, redeemable, taxable, cumulative and non-cumulative NCDs, the company said in an exchange filing.

The company will hold its annual general meeting on Aug. 29.

The notice further said that the company is in capacity expansion mode, and a major portion of its capital expenditure requirement has to be funded by debt.

NTPC announced a double-digit growth in income and profit in the first quarter of fiscal 2025, beating analysts' estimates, on the back of strong revenue flow from the power generation business and improved operating performance.

The government-run power company reported a 12.6% rise in consolidated revenue at Rs 48,521 crore in the April-June quarter, as compared to Rs 43,075 crore in the same period last year.

Revenue from thermal power generation advanced 14.1% to Rs 43,660.54 crore.

Shares of the company closed 0.42% higher at Rs 415 apiece, as compared to a 0.26% decline in the NSE Nifty 50. The stock has fallen 33.98% year-to-date and 90.41% over the past 12 months.