NTPC shareholders approve raising Rs 15,000 cr via bonds

New Delhi, Sep 22 (IANS) State-run power generator NTPC has announced receiving the approval of its shareholders to raise Rs 15,000 crore through non-convertible bonds on a private placement basis for capital expenditure, working capital and other corporate purposes.

The special resolution, passed by the majority of shareholders, was listed on the agenda of NTPC's annual general meeting here, the company said in a stock exchange filing on Thursday evening.

As per the resolution, the country's biggest generator will raise Rs 15,000 crore through non-convertible debentures up to Rs 15,000 crore in one or more tranches not exceeding 30, through private placement, in the domestic market, for capex, working capital and other general requirements.

The shareholders also approved the proposal to confirm payment of interim dividend and declaration of the final dividend for 2016-17.

The company has already paid an interim dividend of Rs 2.61 per share and had recommended a final one of Rs 2.17 for the last financial year.

Besides, the AGM also approved the proposal to amend the Articles of Association in order to insert a provision for consolidation and re-issuance of debt securities.

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