NTPC seeks Sebi approval to raise Rs 1,750 crore via tax-free bonds

Country’s largest power producer, NTPC, has sought market regulator Sebi’s approval to raise up to Rs 1,750 crore through tax free bonds in the current financial year. ‘Public issue by NTPC of tax free secured redeemable non-convertible bonds of face value of Rs 1,000 each in the nature of debentures having tax benefits for an amount aggregating up to Rs 1,000 crore with an option to retain over subscription up to Rs 750 crore for issuance of additional bonds aggregating to a total of up to Rs 1,750 crore in FY14,’ as per draft filed with Sebi.