NTPC awaits nod to raise about Rs 120 billion

NTPC will be seeking the approval of shareholders to raise up to Rs 120 billion through the issuance of non-convertible debentures in the annual general meeting on August 30, as per reports. The funds will be raised in one or more tranches, not exceeding 12, through private placement. These will be used as capital expenditure, working capital and for general corporate purposes. Being under capacity expansion mode, a major portion of the company’s capital expenditure requirement is required to be funded by debt. The company's board has approved the proposal on July 29, 2022 reportedly. Also read: PNB Housing Finance approves raising Rs.20 bn How ecommerce is driving growth for warehousing and logistics