NTPC to raise ₹4,374.10 crore

State-owned NTPC plans to raise ₹4,374.10 crore on Thursday through issuance of unsecured non-convertible bonds on private placement basis.

The proceeds will be utilised for funding of capital expenditure, refinancing of existing loans and other general corporate purposes, the company said in a regulatory filing.

The bonds are proposed to be listed on both National Stock Exchange and BSE.

“Bond Trust Deed for these bonds will be duly executed as per the requirements of and within the period of time prescribed under, the Companies Act and rules specified there in,” said the statement.

These bonds are issued under the approval obtained through shareholders’ resolution on August 21, 2019.