NTPC shares jump 5%

The funds are proposed to be raised on a private placement basis in one or more tranches not exceeding 30, as per the company's notice for the annual general meeting (AGM).

Shares of NTPC jumped 5 percent in morning trade on BSE on September 1 after the company said it would seek shareholders' nod to raise up to Rs 15,000 crore through issuance of bonds in the annual general meeting scheduled for next month.

The funds are proposed to be raised on a private placement basis in one or more tranches not exceeding 30, as per the company's notice for the annual general meeting (AGM).

The AGM is scheduled for September 24.

The special resolution for AGM proposes to make offers or invitations to subscribe to the secured/unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures up to Rs 15,000 crore, the notice said.

The funds would be raised for capital expenditure, working capital and general corporate purposes, in the domestic market.

Shares of NTPC traded 3.52 percent higher at Rs 99.90 on BSE at 11:10 hours.

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