Torrent Power to seek shareholders nod for raising Rs 2,000 cr through NCDs

Torrent Power on Friday said it will seek shareholders' approval for raising up to Rs 2,000 crore through issuance of non-convertible debentures ( NCDs).

The company is holding its annual general meeting on August 8.

"The company seeks the Members' approval for issuance of NCDs upto an aggregate amount of Rs 2,000 crore, within overall approved borrowing limit of the Company as a Special Resolution," stated AGM notice.

Such approval shall be valid in respect of all offers and invitations for such NCDs to be made in one or more series / tranches, within 12 months from the date of passing of Special Resolution, it stated.

The company will issue NCDs on on a private placement basis to identified investor classes.