IRFC Emerges as Lowest Bidder for ₹50 billion loan to NTPC

Indian Railway Finance Corp. Ltd. Friday said it has emerged as the lowest bidder to provide a term loan of ₹50 billion to NTPC Ltd.
NTPC will use the funding for capital expenditure related to capacity expansion, project acquisitions, renewable energy initiatives, renovation and modernisation, and loan refinancing, IRFC said in an exchange filing.

The proposal is subject to board approval and finalisation of the loan terms with NTPC.

In March, IRFC signed an agreement with NTPC Renewable Energy Ltd.—a wholly-owned unit of NTPC Green Energy—to lend ₹50 billion.