NHPC board to mull fund raising upto Rs 2,600 cr on Dec 12

NHPC informed that its board is scheduled to meet on Thursday, 12 December 2024 to consider the proposal of fund raising through issue of non-cumulative bonds up to Rs 2,600 crore in one or more tranche through private placement.

The firm may approve the issuance of unsecured, redeemable, taxable, non-convertible, non-cumulative bonds up to Rs 2,600 crore, as part of the borrowing plan for FY 2024-25.

Further, the board of directors will approve a revised borrowing plan for raising debt during FY 202425.

NHPC is the largest organization for hydropower development in India. It has also diversified in the field of solar & wind power. As of 30 September 2024, the Government of India held a 67.40% stake in the company.

The company reported a 41.19% decline in consolidated net profit to Rs 908.97 crore in Q2 FY25 from Rs 1,545.85 crore recorded in Q2 FY24. However, revenue from operations rose 4.11% year on year (YoY) to Rs 3,051.93 crore in the quarter ended 30 September 2024.

The scrip declined 1.20% to currently trade at Rs 85.72 on the BSE.

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