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NTPC to issue unsecured non-convertible bonds in debentures worth Rs 3,000 cr

NTPC to issue unsecured non-convertible bonds in debentures worth Rs 3,000 cr

The company said proceeds will be utilised for funding of capital expenditure, refinancing of existing loans, and other general corporate purposes

NTPC is issuing these bonds as per the approval obtained through shareholders’ resolution on September 24, 2020 NTPC is issuing these bonds as per the approval obtained through shareholders’ resolution on September 24, 2020

State-owned power generator NTPC has decided to issue unsecured non-convertible bonds in the nature of debentures worth Rs 3,000 crore on September 13.

These non-convertible bonds will be issued through a private placement at a coupon of 6.69 per cent per annum, with a door-to-door maturity of 10 years.

The company said proceeds will be utilised for funding of capital expenditure, refinancing of existing loans, and other general corporate purposes.

The bonds are proposed to be listed on the Bombay Stock Exchange. The company said the Bond Trust Deed for these bonds will be executed as per the requirements and within the period of time prescribed under the Companies Act.

These bonds are being issued as per the approval obtained through shareholders’ resolution on September 24, 2020.

Also read: NTPC commissions 15 MW floating solar PV projects in Andhra Pradesh

Meanwhile, NTPC has invited global 'expression of interest' to set up a pilot project on hydrogen blending with natural gas in city gas distribution.

The expression of interest (EoI) follows the recent tenders floated by NTPC REL for green hydrogen fuelling station at Leh and NTPC Vidyut Vyapar Nigam Ltd (NVVN) for procurement of Fuel Cell Buses.

A dedicated 1.25 MW solar plant is also being set up at Leh by NTPC REL to power the hydrogen fuelling station.

Besides, NTPC has also announced commercial commissioning of a 15MW capacity at the floating solar PV project in Simhadri, Andhra Pradesh. With this, the installed capacity of the floating solar PV project at Simhadri stands at 25 MW.

The NTPC Ltd stock is trading at Rs 114.40, 0.35 or 0.31 per cent up, compared to the previous session close of Rs 114.05 on the NSE.

Also read: India's largest power utility NTPC to work with Coal India, Railways to solve fuel crisis