NHPC plans to raise up to Rs 4,500 cr via corporate bonds

Hydro-power player NHPC is looking at raising Rs 4,500 crore through corporate bonds on private placement basis and its board will meet on Friday to "consider and approve" the proposal.
"A meeting of the board of directors of the company will be held on Friday, July 22, 2016, to consider and approve raising of corporate bonds up to Rs 4,500 crore till September 2017, on private placement basis," the state-owned firm said in a filing to BSE.
The decision is subject to shareholders' approval through special resolution, it said.
NHPC, under the administrative control of the Power Ministry, is into generating power through conventional and non-conventional sources and is dedicated to planning, development and implementation of an integrated and efficient network of power projects in India.

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.
It is constructing five projects with total installed capacity of 4290 MW, including 1000 MW (Pakal Dul HE Project) being executed through a join venture company.
Ten projects of 7151 mw are awaiting government approval for their implementation including three projects of 1,186 MW to be executed through subsidiary/joint venture companies.