Latest News | Torrent Power to Seek Shareholders Nod for Raising Rs 2,000 Cr

New Delhi, Jul 15 (PTI) Torrent Power on Friday said it will seek shareholders' approval for raising up to Rs 2,000 crore through issuance of non-convertible debentures ( NCDs).

The company is holding its annual general meeting on August 8.

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"The company seeks the Members' approval for issuance of NCDs upto an aggregate amount of Rs 2,000 crore, within overall approved borrowing limit of the Company as a Special Resolution," stated AGM notice.

Such approval shall be valid in respect of all offers and invitations for such NCDs to be made in one or more series / tranches, within 12 months from the date of passing of Special Resolution, it stated.

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The company will issue NCDs on on a private placement basis to identified investor classes.

(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)