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NHPC gets shareholders' nod to raise Rs 4,500 Cr via bonds

Press Trust of India  |  New Delhi 

State-run NHPC Ltd has got shareholders' nod to raise up to Rs 4,500 crore through issuance of bonds on private placement basis in domestic market in the next one year.

A special resolution to raise Rs 4,500 crore through issuance of secured/unsecured, redeemable, non-convertible debentures/bonds aggregating up to Rs 4,500 crore through private placement was passed by the shareholders at the 40th Annual General Meeting held on September 22, 2016, NHPC Ltd said in a filing.

According to the statement, the bonds can be issued in one or more tranches within a year from the date of passing of the resolution.

NHPC Ltd is under the administrative control of the Power Ministry and is into generating power through conventional and non-conventional sources.

In 2015-16, NHPC generated 23,404 million units. It had sales of Rs 7,347 crore with a net profit of Rs 2,440 crore.

At the AGM, final dividend at the rate of Rs 1.50 per equity share including interim dividend of Rs 0.92 per equity share of the face value already paid in March 2016 was approved by members of the company.

NHPC today has more than eight lakh shareholders and total dividend pay-out for the year 2015-16 including interim dividend has worked out to Rs 1,660.61 crore, as against Rs 664.25 crore for 2014-15.

The company also stated in the filing that it is nearing completion of 50 MW wind power project in Jaisalmer district of Rajasthan.

It also said that the company has spent Rs 72.68 crore towards corporate social responsibility and sustainable development activities in last fiscal.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, October 13 2016. 15:22 IST