The funds will be raised through issuance of non-convertible corporate bonds in one or more series/ tranches on private placement basis and/ or raising of term loans/ external commercial borrowings (ECB) in suitable tranches.

In a regulatory filing, NHPC said, “The board of directors of NHPC in its meeting held on Tuesday, has considered and approved the proposal for raising of debt upto Rs 5,600 crore during financial year 2023-24 through issuance of secured/unsecured, redeemable, taxable, non-cumulative non-convertible corporate bonds in one or more series/ tranches on private placement basis and/ or raising of term loans/ external commercial borrowings (ECB) in suitable tranches.”

NHPC is the largest organization for hydropower development in India. It has also diversified in the field of solar & wind power. As of 31 December 2022, the Government of India held 70.95% stake in the company.

The company's consolidated net profit declined 17.4% to Rs 671.67 crore despite of 19.8% rise in revenue from operations to Rs 2,582.76 crore in Q3 FY23 over Q3 FY22.

Shares of NHPC declined 0.23% to Rs 38.99 on the BSE.