NTPC has got shareholders’ approval to raise up to Rs 12,000 crore through issuance of non-convertible debentures on private placement basis.

The resolution was passed with requisite majority in the annual general meeting held on Tuesday.

The funds to be raised in one or more tranches (not exceeding 12) will be used for capital expenditure, working capital and general corporate purposes, as per the notice for the AGM.

As the company is in capacity expansion mode, major portion of the capital expenditure requirement has to be funded by debt. The company’s board approved the proposal on July 29, 2022.