NTPC To Raise Rs 12,000 Crore Through Non-Convertible Debentures

State-owned NTPC Ltd. is planning to raise Rs 12,000 crore through non-convertible debentures. The fundraise is subject to approval by the board and shareholders.

The company will discuss the fundraise through secured or unsecured, redeemable, taxable or tax-free NCDs in a meeting on June 29, according to an exchange filing.

After the approval from the board, it will seek approval from the shareholders in the ensuing annual general meeting.

Jakson Green Pvt., the renewable energy arm of Jakson Group, earlier this month announced that it has tied up with NTPC to set up the world’s first and largest 4G ethanol project for the latter’s Lara Thermal Plant in Chattisgarh.

The project will be developed by NTPC Netra and Jakson Green will be the engineering, procurement and construction partner.

Shares of NTPC closed 0.34% lower at Rs 361.50 per share, as compared with a 0.79% advance in the Nifty 50.