that the power ministry has scrapped the auction to acquire 2,500 MW electricity State-controlled NHPC on Monday said its board would think about a proposal to raise up to Rs 2,000 crore through numerous financial obligation instruments. The business, in an exchange filing, said that its board will satisfy on December 28 to think about the proposal to raise financial obligation through the issuance of business bonds on personal placement basis, or via term loans or external business borrowings(ECB)in
ideal tranches.”The board of directors of NHPC Limited in its conference arranged to be held on Saturday, December 28, 2019 inter-alia will consider the proposition for raising of Debt as much as Rs 2,000 crore throughout FY19-20 through issuance of corporate bonds in several series/tranches on personal positioning basis and/or raising of term loans/external business loanings (ECB) in suitable tranches,” the business stated in exchange filings.
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In a separate advancement, NHPC informed the exchanges that the power ministry has scrapped the auction to procure 2,500 MW electricity. The power ministry now has advised nodal firm Power Finance Corporation’s arm PFC Consultancy Ltd (PFCCL) to call the quotes once again.
“PFCCL selected NHPC as “aggregator” (in March this year) under pilot scheme-II for procurement of aggregated power of 2500 MW. Now, present bidding process under the plan has actually been annulled by Ministry of Power (MoP), Government of India. Even more, MoP advised PFCCL (Nodal Agency) to carry out re-bidding procedure,” NHPC said.
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On the other hand, shares of NHPC closed Monday’s trade at Rs 23.80 each, down 1.86 percent, on the Bombay Stock Exchange.
Edited by Chitranjan Kumar
State-controlled NHPC on Monday said its board would think about a proposition to raise up to Rs 2,000 crore through numerous financial obligation instruments. In a separate advancement, NHPC notified the exchanges that the power ministry has scrapped the auction to obtain 2,500 MW electricity.”PFCCL selected NHPC as “aggregator” (in March this year) under pilot scheme-II for procurement of aggregated power of 2500 MW.
