Comments
State-run hydro power giant NHPC will seek shareholders’ approval to raise Rs 2,000 crore via issuance of non-convertible debentures on a private placement basis.
The special resolution proposes to authorise the board to raise Rs 2,000 crore via secured/unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures/bonds, in one or more series/tranches, aggregating through private placement, in the domestic market, NHPC said in a BSE filing today.
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 at its meeting held on May 30, 2017, had recommended a final dividend @1% (Re 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 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.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.