NHPC Gets Shareholders' nod to Raise Rs 4,500 cr via Bonds
State-run NHPC said that it has got shareholders' nod to raise up to Rs 4,500 crore through issuance of bonds on private placement basis in domestic market in the next one year. A special resolution to raise Rs 4,500 crore through issuance of secured/unsecured, redeemable, non-convertible debentures/bonds aggregating up to Rs 4,500 crore through private placement was passed by the shareholders at the 40th Annual General Meeting held on September 22, 2016, NHPC Ltd said in a BSE filing.
According to the statement, the bonds can be issued in one or more tranches within a year from the date of passing of the resolution. NHPC Ltd is under the administrative control of the Power Ministry and is into generating power through conventional and non-conventional sources. In 2015-16, NHPC generated 23,404 million units. It had sales of Rs 7,347 crore with a net profit of Rs 2,440 crore.
At the AGM, final dividend at the rate of Rs 1.50 per equity share including interim dividend of Rs 0.92 per equity share of the face value already paid in March 2016 was approved by members of the company.
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