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NTPC shines on receiving approval to raise up to $6 billion through bonds

  • Apr-21-2017
  • 15 Hrs IST

NTPC is currently trading at Rs. 167.35, up by 3.65 points or 2.23% from its previous closing of Rs. 163.70 on the BSE.

The scrip opened at Rs. 165.00 and has touched a high and low of Rs. 167.35 and Rs. 164.15 respectively. So far 109919 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 177.80 on 27-Jan-2017 and a 52 week low of Rs. 133.50 on 19-May-2016.

Last one week high and low of the scrip stood at Rs. 167.35 and Rs. 158.40 respectively. The current market cap of the company is Rs. 136833.48 crore.

The promoters holding in the company stood at 69.74%, while Institutions and Non-Institutions held 27.45% and 2.81% respectively.

NTPC has received an approval for updating and upsizing the $4 billion MTN (medium term note) programme up to $6 billion for raising debt from international markets to part finance the capital expenditure on new / ongoing projects, coal mining projects, renovation and modernization of power stations and for other permissible end uses subject to compliance of the provisions of the Companies Act, 2013, the ECB guidelines of the RBI. The board of directors at its meeting held on April 19, 2017 has approved for the same.

The company has also received approval to issue Notes up to Rs 50 billion (Rupee denominated bonds) and/or up to $ 750 million equivalent (foreign currency bonds other than INR denominated) in the international markets either under the MTN programme or on standalone basis, in one or more tranches on the terms and conditions as may be agreed with the prospective investor(s) to finance the capital expenditure of new / ongoing projects, coal mining projects, renovation and modernization of power stations and/or for such other purposes as permissible under the ECB guidelines of the RBI.

NTPC is an Indian central Public Sector Undertaking (PSU) under the Ministry of Power, Government of India, engaged in the business of generation of electricity and allied activities.