NTPC to issue Non-Convertible Bonds

NTPC has decided to issue unsecured non-convertible bonds in the nature of debentures of Rs.3,996 crore on 20 April, 2021, through private placement at a coupon of 6.87% p.a. with a door to door maturity of 15 years 1 day on 21 April, 2036. The proceeds will be utilized for, inter alia, funding of capital expenditure, refinancing of existing loans and other general corporate purposes. The bonds are proposed to be listed on NSE. 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 therein.

These bonds are issued under the approval obtained through shareholders' resolution dated 24 September, 2020.

Shares of NTPC LTD. was last trading in BSE at Rs.102.4 as compared to the previous close of Rs. 101.3. The total number of shares traded during the day was 355983 in over 1602 trades.

The stock hit an intraday high of Rs. 102.85 and intraday low of 100.55. The net turnover during the day was Rs. 36262595.

Source : Equity Bulls

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