State-owned NTPC on Thursday said it has received shareholders' approval to raise up to Rs 18,000 crore through issue of non-convertible debentures on a private placement basis.
The fund will be raised in up to 12 tranches, through a private placement during the period commencing from the date of passing of the special resolution till completion of one year thereof, according to a regulatory filing.
NTPC had issued a notice of postal ballot on June 23, 2025, to seek approval of the members by way of special resolution through remote e-voting regarding raising of funds through the issue of secured/ unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures (NCDs), amounting up to Rs 18,000 crore.
The said resolution has been passed with the requisite majority, the filing said on Thursday.
On June 21, the company's board of directors considered and approved the draft notice of postal ballot in respect of seeking shareholders' approval for the issue of these NCDs.
The company had fixed June 20, 2025, as the cut-off date for the purpose of reckoning the names of members entitled to receive a postal ballot notice and voting rights.
The remote e-voting started on June 24 and ended on July 23.
As the company is under capacity expansion mode, a major portion of its capital expenditure requirements has to be funded by debt, the notice had explained.
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