Torrent Power will seek shareholder approval to raise Rs 2,000 cr

Torrent Power announced on Friday that it would seek shareholder approval to raise up to Rs 2,000 crore through the issuance of non-convertible debentures (NCDs).

The company holds its annual general meeting on August 8.

“The company is seeking member approval for the issuance of NCDs up to an aggregate amount of Rs 2,000 crore, within the approved aggregate borrowing limit of the company as a special resolution,” said advice from the AGM.

This approval will be valid for all offers and invitations for these NCDs to be made in one or more rounds/tranches, within 12 months from the date of passing the special resolution, he said.

The company will issue NCDs on a private placement basis to identified categories of investors.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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