NTPC May Issue Its Bonds Soon, Aims To Raise Rs 18,000 Crore

NTPC may issue its bonds soon, aims to raise Rs 18,000 crore.

National Thermal Power Corporation Limited (NTPC) will seek shareholders’ approval in its annual general meeting to raise Rs 18,000 crore by issue of bonds or debentures.

This annual meeting of NTPC will be held on 28 September. Notice to the AGM said a proposal to raise funds up to Rs 18,000 crore would be brought by NTPC by the issue of bonds or debentures on a private placement basis.

NTPC is the country’s leading and leading power generation company in the public sector. The upcoming proposal by NTPC also added that, in addition to capital expenditure.

The company also needs to borrow to meet its working capital requirement and other general corporate purposes, which can be partially funded through non-convertible bonds.

The proposal to be completed through issuance has been brought.

It has also sought shareholders’ approval to increase the borrowing powers of the company from Rs 2,00,000 crore to Rs 2,25,000 crore.

The need is felt to increase the existing borrowing limit to meet future capex requirements and fund addition and to meet new business verticals and any unforeseen investment requirements in the future, the company said.

Further, it has sought shareholders’ approval for the reappointment of Gurdeep Singh as the Chairman and Managing Director of the company by July 31, 2025.

Singh was appointed as CMD for a term of five years from the date of assuming charge or till further orders on January 28, 2016.

The appointment of Singh as Chairman and Managing Director was approved by the shareholders at the 40th Annual General Meeting held on September 20, 2016.

Foreign Exchange Reserves: Tremendous increase in the country’s foreign exchange reserves, reaching $ 633.558 billion.

There has been a tremendous increase in the foreign exchange reserves of the country.

According to the Reserve Bank of India (RBI) data, the country’s foreign exchange reserves increased by USD 16.663 billion to USD 633.558 billion on August 27.

The main reason for this increase in foreign exchange reserves is the increase in Special Drawing Rights (SDR) holdings.