Torrent Power seeks shareholder nod to raise Rs 1,500 cr via NCDs

Torrent Power has sought shareholders' approval to raise up to Rs 1,500 crore through issuance of non-convertible debentures on private placement basis.

As per a BSE filing, the company is seeking shareholders' nod for issuance of NCDs by way of offer or invitation, to raise up to Rs 1,500 crore on a private placement basis to Qualified Institutional Buyers, banks other than scheduled commercial banks, companies, corporates, among others.

Shareholders' approval has also been sought to declare dividend of Rs 5 per share on equity shares for 2018-19.

The decisions will taken at the company's annual general meeting scheduled for August 5, 2019.