What happened (NTPC board approval for NCD funding)
NTPC Limited’s board approved a proposal to raise up to ₹12,000 crore through issuance of non-convertible debentures (NCDs)—debt securities where investment returns come through interest and principal repayment, not conversion into equity. NTPC will issue the NCDs in one or more tranches through private placement in the domestic market.
Issue window and tranche-by-tranche flexibility
The NCD issuance window starts from the date of the special resolution. The window can run up to the earlier of: completion of one year, or the date of the next annual general meeting in FY27–28. Instrument details are not locked across the full programme in the board approval; instead, key terms will be finalised when each tranche is issued.
NTPC’s board approval leaves the following terms to be decided at the time of each tranche issuance:
Tranche sizeTenor (maturity period)Listing (on BSE and/or NSE)Coupon/interest rateSecurity (if applicable)