NHPC raises Rs 500 crore via bonds; signs pact with CCI

Hydroelectric power generation company, NHPC Ltd informed that it has raised Rs 500 crore through issuance of bonds on private placement basis.

In a BSE filing, the company stated on March 11, 2020 after market hours that they have raised Rs 500 crore through private placement of secured, redeemable, taxable, non-cumulative and non-convertible 6.89 per cent NHPC AA-1 series bonds. The bonds raised have been proposed to be listed on BSE and NSE in Wholesale Debt Market (WDM) segment.

Besides, the company also informed on Wednesday that it has signed a pact with Cement Corporation of India (CCI) to meet cement requirements of its Dibang Multipurpose Project (2,880 MW), which is in Arunachal Pradesh. According to the company, a Memorandum of Understanding (MoU) was signed between NHPC Chairman A K Singh and CCI Chairman B V N Prasad regarding the deal. Meanwhile, CCI added that they would set up a clinker grinder unit at the project site to generate employment opportunities, apart from, meeting their cement requirement. 

At 10.21 am on Thursday, the stock of NHPC Ltd is trading at Rs 20.65, down by 2.13 per cent against its previous close of Rs 21.10 on BSE.