NTPC gets shareholders' nod to raise up to Rs 15,000 cr via bonds

Presently, these businesses are covered under allied/ancillary industries, which means there is no specific provision regarding these segments in the MoA.

NTPC on Friday said it has got shareholders' approval to raise up to Rs 15,000 crore through issuance of bonds.

The funds are proposed to be raised on private placement basis in one or more tranches not exceeding 30, as per the company's notice for the annual general meeting (AGM) held on Thursday.

"The special resolution for AGM which proposed to make offers or invitations to subscribe to the secured/unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures up to Rs 15,000 crore, was passed with requisite majority in the AGM," NTPC said in a BSE filing.

The funds would be raised for capital expenditure , working capital and general corporate purposes, in the domestic market.

The company also got members' approval to amend the Memorandum of Association (MoA) to provide focus on new business segments like e-mobility, waste-to-energy, manufacturing of value added products from fly ash, gypsum etc. and sea water desalination.

Presently, these businesses are covered under allied/ancillary industries, which means there is no specific provision regarding these segments in the MoA.

As NTPC is venturing into these areas in a big way, it was proposed to include specific enabling provision regarding these new business segments in the objects clause of the company.

The company also got shareholders' approval for appointment of Anil Kumar Gautam as Director (Finance), Ujjwal Kanti Bhattacharya as Director (Projects), Chandan Kumar Mondol as Director (Commercial), Ramesh Babu V as Director (Operations), Dillip Kumar Patel as Director (Human Resources) and Ashish Upadhyaya as Government Nominee Director.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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