NTPC, India’s largest energy conglomerate, has received shareholders’ approval to raise up to Rs 12,000 crore through the issuance of non-convertible debentures on a private placement basis. The company said the resolution was passed with the requisite majority in the state-run company’s annual general meeting held on Tuesday.
As per the notice for the AGM, the funds will be used for capital expenditure, working capital and general corporate purposes. “The Rs 12,000 crore will be raised in tranches of one or more but not exceeding 12 through private placements in the domestic market for CAPEX, working capital, and general corporate purposes,” reads the company’s notice for the AGM.
In fiscal FY22, it reported a capex of Rs 21,035.87 crore on a standalone basis and a group capex of Rs 34,490.55 crore. With the commercialisation of projects, regulated equity reached Rs 70,890 crore. During fiscal FY22, NTPC’s total income grew by 15.92% to Rs 120,042.43 crore as against the previous year’s income of Rs 103,552.71 crore. NTPC reported its highest ever profit of Rs 16,111.42 crore as against Rs 13,769.52 crore in FY21.
