State-owned National Hydroelectric Power Corporation Ltd (NHPC) will raise Rs 2,250 crore through issue of V series corporate bonds.

“The Board of Directors of NHPC Ltd at its meeting held on Friday has approved the proposal for raising of Rs 2250 crore through issuance of “V” series corporate bonds on private placement basis”, said the company in its latest filing.

According to the company, the proposed issue is out of Rs 4500 crore already approved by the shareholders in their 40th Annual General Meeting held on 22nd Septemebr,2016.

At present, the Faridabad-based company is a Mini Ratna Category-I Enterprise of the India government with an authorised share capital of Rs 1,50,000 Million. It has recently posted a net profit of Rs 15,546.60 million for the quarter ended September 30, 2016 as against Rs 12,156.70 million it posted in the same quarter last fiscal.

NHPC shares surged more than 4% after the latest fundraising news came in. The Rs 10 face value shares closed trading at Rs 26.30, up 4.78%, on BSE on Friday.

here is company details.

 

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