NTPC invitations bids from banks to lift Rs 5,000 cr
The nation’s largest energy producer, NTPC, has invited bids from banks for taking rupee loans of as much as Rs 5,000 crore required for its capital expenditure programme.
The PSU has sought that every financial institution/monetary establishment shall place an unconditional and irrevocable dedication mentioning the speed of curiosity (in two decimals) and the quantum of mortgage provided.
Its mortgage doc stated that banks ought to quote the bottom price of curiosity linked to MCLR or linked to another market decided exterior benchmark, clearly specifying the reset interval which can’t be lower than one month.
Revision in quantum, in addition to ROI, won’t be allowed as soon as the bid has been submitted. Furthermore, every financial institution could be required to take part provided that the quantum of mortgage is Rs 500 crore or extra.
The corporate’s RFW match mortgage mentions that proceeds of the mortgage shall be utilised in direction of capital expenditure for ongoing/new capability addition programmes, together with the takeover of initiatives, shopping for out authorities’ fairness stake in PSUs beneath the disinvestment programme of the federal government of India, renewable power initiatives, coal mining and washeries, renovation and modernisation of varied initiatives, refinancing of loans and normal company functions and so forth.