NHPC to seek shareholders' nod to raise Rs 2,000 cr via bonds

State-run hydro power giant NHPC today said it will seek shareholders' approval to raise Rs 2,000 crore via issuance of non-convertible debentures on private placement basis at its AGM on September 27.

The special resolution proposes to authorise board to raise Rs 2,000 crore via the secured/unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures/bonds, in one or more series/tranches, aggregating through private placement, in domestic market, NHPC said in a BSE filing today.

Besides, the shareholders would also consider the proposal for final dividend at the rate of 1 per cent on the paid up equity share capital. That is 10 paise per equity share.
 

The board in its meeting held on May 30, 2017 recommended a final dividend @1% (Rs 0.10 per equity share) on the paid up equity share capital of the Company for 2016-17, excluding interim dividend @17% (Rs 1.70 per equity share) paid in January, 2017.

The board will also consider a proposal to amend its articles of association of the company so that the board shall have power to carry out consolidation and re-issuance of its debt securities issued through private placement after compliance of necessary conditions, if any, prescribed under the Act or by regulatory authorities including SEBI, RBI, etc.