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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