|NTPC is India's largest power producer|
“The issue will open on December 3, 2013 and is scheduled to close on December 16, 2013,” NTPC said...
in a regulatory filing to Bombay Stock Exchange (BSE) and other bourses. Under the offer, the company will issue tax-free secured redeemable non-convertible bonds.
“The base issue size aggregates Rs 1,000 crore with an option to retain oversubscription up to Rs 750 crore for issuance of additional bonds, aggregating up to Rs 1,750 crore,” the company said.
The capital raised through the issue would be used for funding of capital expenditure and for meeting the debt requirement in ongoing projects.
The company had last week filed a prospectus with the Registrar of Companies (RoC), Delhi and Haryana and shall file the prospectus with the BSE, NSE and SEBI (Securities and Exchange Board of India) in connection with its proposed public issue of tax-free secured redeemable non-convertible bonds, NTPC said.
The lead managers to the issue are ICICI Securities, AK Capital Services, Axis Capital, SBI Capital Markets and Kotak Mahindra Capital Company.
At present, the Maharatna company has an installed capacity of the company is 41,794 MW (including 5,474 MW through JVs) with 16 coal-based and seven gas-based stations, located across the country. NTPC targets to add about 14,000 MW to its total capacity by the end of 2016-17.
The company has set a target to have an installed power generating capacity of 1,28,000 MW by the year 2032. The capacity will have a diversified fuel mix comprising 56 percent coal, 16 percent gas, 11 percent nuclear and 17 percent renewable energy sources(RES) including hydro. By 2032, non fossil fuel based generation capacity shall make up nearly 28 percent of NTPC’s portfolio.