State-owned NHPC on Saturday said it plans to issue non-convertible debentures (NCDs)/bonds for up to Rs2,500 crore. “The company said it will consider the issue of secured/unsecured redeemable non-convertible debentures/bonds aggregating up to Rs2,500 crore through private placement at the 39th Annual General Meeting to be held on September 23, 2015," NHPC said in a filing to the BSE.
“Approval of the members be and is hereby accorded to authorise the Board of Directors of the Company to offer or invite subscriptions for secured/unsecured redeemable nonconvertible debentures/bonds, in one or more series/tranches, aggregating up to Rs2,500 crore, on private placement,” it said.
The approval shall be valid for a period of one year from the date of approval, it added. Other matters to be considered at the AGM include appointing Jayant Kumar as Director.