NHPC board approves proposals to raise Rs 3,800 cr

State-owned hydro power giant NHPC today said its board has approved two proposals to raise Rs 3,800 crore via bonds on private placement basis.

"The board of directors of NHPC Ltd today has approved a proposal for raising of Rs 500 crore through issuance of debentures/bonds in one or more series/tranches on private placement basis from domestic market and/or to raise term loans from domestic financial institutions/banks/inter-corporate loans in suitable tranches," a BSE filing said.

The proposed issue is out of Rs 2,000 crore which is already approved by the shareholders in the 41st annual general meeting (AGM) of the company held on September 27, 2017.

The company further informed BSE that its board has approved a proposal of raising corporate debentures/bonds aggregating to Rs 3,300 crore on private placement basis subject to shareholders' approval through special resolution in the next AGM.