NTPC Gets Shareholder Nod to Raise ₹18,000 Crore via NCDs in Up to 12 Tranches

State-owned power company NTPC Ltd has received shareholder approval to raise ₹18,000 crore through non-convertible debentures (NCDs) on a private placement basis. The approval was granted through a special resolution passed via postal ballot and remote e-voting that ended on July 23, 2025.

Funds to Be Raised in 12 Tranches

According to the company’s regulatory filing, the fund will be raised in up to 12 tranches. The period for raising these funds will start from the date of passing the resolution and extend up to one year.

The NCDs could be secured/unsecured, taxable or tax-free, and cumulative or non-cumulative, depending on market conditions and requirements.

Why NTPC Is Raising Capital

NTPC is currently in capacity expansion mode, which requires significant capital. A large part of this capital expenditure will be funded through borrowings. The company had explained this in its postal ballot notice issued on June 23, following board approval of the proposal on June 21.

Shareholder Voting Process

NTPC fixed June 20 as the cut-off date to determine eligible shareholders. Voting through remote e-voting was held from June 24 to July 23, and the resolution was approved by the required majority.

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NTPC Share Price Movement

As of July 25 at 11:03 AM IST, NTPC share price (NSE: NTPC) was trading at ₹335.10, down ₹3.80 or 1.12% for the day. The stock opened at ₹338.90 and moved between a high of ₹339.90 and a low of ₹334.45 during the session. NTPC has a market capitalisation of ₹3.25 lakh crore and a price-to-earnings (P/E) ratio of 13.87. The stock’s 52-week high is ₹448.45, while the 52-week low is ₹292.80.

Conclusion

With this approval in place, NTPC is now ready to tap the debt market for ₹18,000 crore over the next year, helping fund its expansion and infrastructure plans efficiently. The move is a key part of the company’s strategy to meet growing power demands across India.

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