Torrent Power to raise Rs. 2,000 crores through NCDs

Torrent Power to raise Rs. 2,000 crores through NCDs

Torrent Power to raise Rs. 2,000 crores through NCDs

To begin with, Torrent Power would seek shareholders’ approval for raising Rs. 2,000 crores via NCDs. On the other hand, the special resolution for the issuance of NCDs would come up to an average of Rs. 2,000 crores on private placement. According to a regulatory filing, the annual general meeting is scheduled for August 6th. 

So then, it also would approve the members for raising the amount within the borrowing limit of the company. Besides, the funds would remain raised from qualified institutional buyers. However, banks other than commercial banks, companies, Foreign Portfolio Investors would remain excluded from the fundraising. 

On the other hand, the shareholders might consider a resolution on payment of interim dividend of Rs. 11.60 per equity share for 2020.  

July 10th Stock Market Details:

On July 10th, both the Sensex and the Nifty traded bearishly in the stock market. The Sensex lost 131.79 points and reached 36,605.81 levels with a 0.40% loss. On the other side, the Nifty lost 31.55 points and reached 10,773.00 levels with a 0.37% loss.

Besides, as of July 12th, the number of confirmed COVID-19 cases across India has reached 8,49,553. Also, the number of deaths in the country has reached 22,674.

In the border market, the S&P BSE Midcap index lost 15.71 points with a 0.12% loss and reached a 13,483.11 level. Also, the S&P BSE Smallcap index lost 9.01 points with a 0.068% loss and reached a 12,885.39 level. At the same time, the Nifty Bank lost 241.00 points with a 1.04% fall and reached 22,669.15 level.

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