NTPC nears 52-week high on fixing record date for bonus debentures
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NTPC has moved higher by 7% to Rs 165 on the National Stock Exchange (NSE) after the company announced that it has fixed March 23, 2015, as the record date for bonus debentures.
In December last year, the board of state-run NTPC had approved a scheme of arrangement for the issuance of secured, non-cumulative, non-convertible, redeemable, taxable fully paid-up bonus debentures of face value of Rs 12.50 each against each equity shares of Rs 10 held by its members by utilising its free reserves.
“The scheme of arrangement has been approved by Ministry of Corporate Affairs vide order dated March 2, 2015, received on March 11, 2015. With the filing of the order with Registrar of Companies NCT of Delhi and Haryana on March 11, 2015, the Scheme has become effective,” NTPC said in a statement.
Further, the company has fixed March 23, 2015, as the record date for determining the members/shareholders to whom the Debentures will be allotted in terms of this Scheme, it added.
At 1142 hours, the stock was up 5% at Rs 162 and has seen a combined 13.75 million shares changed hands on the counter on NSE and BSE. It touched a 52-week high of Rs 169 on June 6, 2014.
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