NTPC Board will consider raising funds via Non-convertible Debentures (NCDs) worth up to Rs 12,000 crore on June 24, 2023. “A meeting of the Board of Directors of the Company is scheduled to be held at New Delhi on Saturday, 24th June, 2023 to, inter-alia, consider for issue of secured/ unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures (Bonds/NCDs) up to Rs 12,000 crore,” NTPC said in a regulatory filing. The fundraising will be subject to approval by the shareholders at the upcoming annual general meeting, it said. 

Earlier in May, NTPC had posted its fiscal fourth quarter results. It had reported a profit of Rs 5,672 crore against Rs 5,618 crore in the same quarter last year. The revenue was up 20 per cent to Rs 41,317.9 crore in comparison to Rs 34,358 crore in the fourth quarter of FY22.

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NTPC had reported its highest-ever annual power generation of 399 billion units in FY23 as a group, an increase of about 11 per cent over 361 billion units in FY22. On a standalone basis, NTPC’s gross generation of power in FY23 was 344 billion units as compared to 310 billion units in the previous year, an increase of about 11 per cent. NTPC coal stations achieved a plant load factor of 75.90 per cent as against the national average of 64.21 per cent during FY23. 

In April, NTPC had announced that its subsidiary NTPC Renewable Energy (NTPC REL) has won a 500 MW renewable energy round-the-clock project from REMCL, a joint venture of the ministry of railways and RITES. The capacity, won in a competitive bidding, is a major share of total 900 MW RE-RTC on offer, the company had said in a statement, adding that the power purchase agreement (PPA) will be signed with REMCL for 25 years.