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NTPC shareholders approve raising Rs 15,000 cr via bonds
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SME Times News Bureau | 23 Sep, 2017
State-run power generator NTPC has announced receiving the approval of
its shareholders to raise Rs 15,000 crore through non-convertible bonds
on a private placement basis for capital expenditure, working capital
and other corporate purposes.
The special resolution, passed by
the majority of shareholders, was listed on the agenda of NTPC's annual
general meeting here, the company said in a stock exchange filing on
Thursday evening.
As per the resolution, the country's biggest
generator will raise Rs 15,000 crore through non-convertible debentures
up to Rs 15,000 crore in one or more tranches not exceeding 30, through
private placement, in the domestic market, for capex, working capital
and other general requirements.
The shareholders also approved
the proposal to confirm payment of interim dividend and declaration of
the final dividend for 2016-17.
The company has already paid an
interim dividend of Rs 2.61 per share and had recommended a final one of
Rs 2.17 for the last financial year.
Besides, the AGM also
approved the proposal to amend the Articles of Association in order to
insert a provision for consolidation and re-issuance of debt securities.
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