torrent power: Torrent Power gets shareholders’ nod for raising up to Rs 2,000 cr via NCDs

on Monday said it has received shareholders‘ approval for raising up to Rs 2,000 crore through issuance of non-convertible debentures (NCDs). The proposal for raising funds was listed on the agenda of the company’s annual general meeting held on Monday.

“Based on the Consolidated Report of the Scrutinizer, all Resolutions as set out in the Notice of 18th AGM have been duly approved by the Members with requisite majority,” it said in a BSE filing.

It sought approval for issuance of NCDs for up to an aggregate amount of Rs 2,000 crore, within the overall approved borrowing limit of the company.

The company will issue NCDs on a private placement basis to identified investor classes, it added.