NTPC to raise Rs 3,996 cr via bonds

The state-run power major will raise Rs 3,996 crore through issuance of non-convertible bonds on Tuesday.

The state-run power major will issue unsecured non-convertible bonds of Rs 3,996 crore on 20 April 2021, through private placement.

The bonds will be issued at a coupon of 6.87% per annum with a door-to-door maturity of 15 years 1 day on 21 April 2036.

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

The bonds are proposed to be listed on NSE. These bonds are issued under the approval obtained through shareholders' resolution dated 24 September 2020.

Separately, NTPC said it has commissioned the last part capacity of 15 MW of 85 MW Bilhaur Solar PV Project at Bilhaur in UP. With this, the unit is declared to be on commercial operation from 8 April 2021.

With this, the total installed capacity of NTPC and NTPC group has become 52400 MW and 65825 MW respectively and the commercial capacity of NTPC and NTPC group has become 51740 MW and 64505 MW respectively.

NTPC's consolidated net profit jumped 15.7% to Rs 3,876.36 crore on 4% rise in net sales at Rs 27,526.03 crore in Q3 December 2020 over Q3 December 2019.

NTPC is a Maharatna company operating in the power generation business. The principal business activity of the firm is electric power generation through coal based thermal power plants. It also engages in the business of generation of electricity from hydro and renewable energy sources.

Shares of NTPC dropped 3.17% to Rs 99.15 on BSE. The scrip hit an intraday high of Rs 98.70 to Rs 100.30 so far. As of 31 December 2020, the Government of India held 51.10% stake held in NTPC.

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