NTPC seeks to raise ₹12,000 cr via bonds; aims to achieve 75 GW capacity by Aug 2023 | Mint
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Business News/ Companies / News/  NTPC seeks to raise 12,000 cr via bonds; aims to achieve 75 GW capacity by Aug 2023
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NTPC seeks to raise ₹12,000 cr via bonds; aims to achieve 75 GW capacity by Aug 2023

In the company's annual report, the chairman Gurdeep Singh said NTPC is focused on strengthening its base of existing businesses while building new business models. NTPC is also planning to achieve 75 GW capacity by August 15 next year.

The company is going to hold its 46th annual general meeting (AGM) on August 30, 2022. (REUTERS)Premium
The company is going to hold its 46th annual general meeting (AGM) on August 30, 2022. (REUTERS)

Government-owned NTPC is planning to raise funds aggregating to 12,000 crore through non-convertible debentures on a private placement basis. The company seeks in the upcoming annual general meeting (AGM). In the company's annual report, the chairman Gurdeep Singh said NTPC is focused on strengthening its base of existing businesses while building new business models. NTPC is also planning to achieve 75 GW capacity by August 15 next year. On Monday, NTPC shares were on a bull run.

The company is going to hold its 46th annual general meeting (AGM) on August 30, 2022.

As per the notice of AGM, NTPC said, "to raise funds up to 12,000 crore through issue of Bonds/Debentures on Private Placement basis and in this regard to consider and if thought fit, to pass the following resolution as a Special Resolution."

The 12,000 crore will be raised in tranches of one or more but not exceeding 12 through private placement in the domestic market for CAPEX, working capital, and general corporate purposes.

In the annual report FY22 released on Monday, NTPC chairman Gurdeep Singh said, "it is pertinent to mention that the period of low dispatch of power from our stations and “supply overhang" in the country seems to be over."

Singh told the shareholders, "due to the strong demand, it is expected that the PLF of coal-based stations may further increase. Even though our coal-based project pipeline has become slim, all the remaining projects are either pithead or situated on the mine. With the commissioning of these projects, our generation share shall see a further rise. As we march ahead in our capacity addition programme, we are planning to achieve 75 GW capacity by August 15, 2023."

The Chairman added, "We are constantly focusing on strengthening our base of existing businesses while building new business models. We are always looking to improve our maintenance practices so that we operate our fleet most efficiently, economically, and reliably. The digital initiatives taken by your Company have already yielded good results. We strongly believe that Digitalization, Process Optimization, and Consolidation is the only way forward for progressive organizations."

In FY22, the company incurred a CAPEX of 21,035.87 crore on a standalone basis and a group CAPEX of 34,490.55 crore. With the commercialization of projects, the regulated equity reached 70,890 crore on a standalone basis.

During fiscal FY22, NTPC's total income stood at 120,042.43 crore as against the previous year income of 103,552.71 crore, registering an increase of 15.92%. Meanwhile, the company registered its highest ever profit of 16,111.42 crore as against 13,769.52 crore in FY21, registering an increase of 17.01%.

On BSE, NTPC shares closed at 159.20 apiece higher by 2.12%. The company's market cap is around 1,54,370.92 crore.

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Published: 08 Aug 2022, 04:56 PM IST
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