NEW DELHI: Hydro power major NHPC plans to raise Rs 2,000 crore via issuance of non-convertible debentures through private placement. The state-owned company said on Monday that it would seek shareholders’ approval at its annual general meeting on September 27.
The special resolution proposes to authorise the board to raise Rs 2,000 crore via the secured/unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures/bonds, in one or more series/tranches, aggregating through private placement, in domestic market, NHPC said in a BSE filing on Monday.
Besides, the shareholders would also consider the proposal for final dividend at the rate of 1 per cent on the paid-up equity share capital. That is 10 paise per equity share.
The board in its meeting held on May 30, 2017 recommended a final dividend @1% (Rs 0.10 per equity share) on the paid up equity share capital of the Company for 2016-17, excluding interim dividend @17% (Rs 1.70 per equity share) paid in January, 2017.
The board will also consider a proposal to amend its articles of association of the company so that the board shall have the power to carry out consolidation and re-issuance of its debt securities issued through private placement after compliance of necessary conditions, if any, prescribed under the Act or by regulatory authorities including Sebi, RBI, etc.
Under consideration
The shareholders would also consider the proposal for final dividend at the rate of 1 per cent on the paid-up equity share capital. That is 10 paise per equity share