NTPC Board Approves Rs 12,000 Crore Fundraising Via NCDs

The board of directors of state-owned NTPC Limited on Saturday approved to raise Rs 12,000 crore through non-convertible debentures. After the approval from the board, the company to seek approval from the shareholders in the ensuing annual general meeting.

The company's board of director's discussed the fundraise through secured or unsecured, redeemable, taxable or tax-free NCDs in a meeting held on Saturday, according to an exchange filing.

Jakson Green Pvt., the renewable energy arm of Jakson Group, earlier this month announced that it has tied up with NTPC to set up the world’s first and largest 4G ethanol project for the latter’s Lara Thermal Plant in Chattisgarh.

The project will be developed by NTPC Netra and Jakson Green will be the engineering, procurement and construction partner.