Hydro-power player NHPC is looking at raising Rs4,500 crore through corporate bonds on private placement basis and its board will meet on Friday to ‘consider and approve’ the proposal. “A meeting of the board of directors of the company will be held on Friday, July 22, 2016, to consider and approve raising of corporate bonds up to Rs4,500 crore till September 2017, on private placement basis,” the state-owned firm said in a filing to BSE.
The decision is subject to shareholders’ approval through special resolution, it said. NHPC, under the administrative control of the Power Ministry, is into generating power through conventional and non-conventional sources and is dedicated to planning, development and implementation of an integrated and efficient network of power projects in India. In 2015-16, NHPC generated 23,404 million units. It had sales of Rs 7,347 crore with a net profit of Rs 2,440 crore.