NHPC raises Rs 996 crore through bonds – EQ Mag

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NHPC raises Rs 996 crore through bonds – EQ Mag

February 21, 2023 Anand Gupta

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NHPC announced that it has raised Rs 996 crore through unsecured, redeemable, non-convertible, non-cumulative and taxable AD series bonds on private placement basis.

The company allotted the 7.59% p.a. bonds on 20 February 2023 for 15 years and it will be matured on 20 February 2038. The AD bonds are proposed for listing at Wholesale Debt Market (WDM) segment of Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

NHPC is the largest organization for hydropower development in India. It has also diversified in the field of solar & wind power. As of 31 December 2022, the Government of India held 70.95% stake in the company.

The power generation company’s consolidated net profit declined 17.4% to Rs 671.67 crore despite of 19.8% rise in revenue from operations to Rs 2,582.76 crore in Q3 FY23 over Q3 FY22.

Shares of NHPC were up 0.26% to Rs 39.10 on the BSE.