Shareholders of NTPC approved to raise to Rs 12000 crore via issuing the non-convertible debentures on a private placement basis. The annual general assembly was held on Tuesday, wherein the resolution passed with the requisite majority.

The funds would be raised in one or more tranches (not exceeding the amount of 12).  Per AGM’s notice, they will be utilised for capital expenditure, working capital, and general corporate purposes.  As the company is willing to expand its capacity, an adequate portion of the capital expenditure requirement has to be funded by debt.

National Thermal Power Corporation Limited NTPC is one of India’s leading Public sector undertaking companies; NTPC serves the purpose of generating electricity and allied activities.  The headquarters of the company stand in New Delhi. 

The prime purpose of the company is to distribute electricity to the State Electricity Board of India.  The body also undertakes the projects such as engineering, project management, construction management, and management of power plants.  The company is also involved in gas exploration and coal mining ventures.  Contemporarily, the NTPC has operated 55 power stations affiliated with the Gas, Liquid fuel hydro, and solar projects.