New Delhi, Apr 12 (PTI) State-owned power giant NTPC on Wednesday said it has decided to raise Rs 3,000 crore by issuing non-convertible debentures on a private placement basis.

"NTPC has decided to issue unsecured non-convertible debentures of Rs 3,000 crore on April 17, 2023, through a private placement at a coupon of 7.35 per cent per annum for a tenor of 3 years, maturing on April 17, 2026," a BSE filing said.

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The proceeds will be utilised for, inter alia, funding of capital expenditure, refinancing of existing loans and other general corporate purposes, it stated.

The debentures are proposed to be listed on NSE.

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Debenture Trust Deed 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 debentures are being issued under the recommendation of board resolution on July 29, 2022, and subsequent approval obtained through shareholders' resolution on August 30, 2022.

This is the second issue of debentures under the mentioned approval. In the first issue, debentures aggregating to Rs 500 crore were issued.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)