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DRAFT PROSPECTUS
Dated November 15, 2013
A MAHARATNA COMPANY
NTPC LIMITED (A Government of India Enterprise)
Our Company was originally incorporated in New Delhi on November 7, 1975 under the Companies Act, 1956 (Companies Act 1956) as a private limited company under the name,
National Thermal Power Corporation Private Limited. For information on changes in our Companys name and registered office, see History and Certain Corporate Matters on page
69.
Registered and Corporate Office: NTPC Bhawan, SCOPE Complex, 7, Institutional Area, Lodhi Road, New Delhi 110 003 Tel: (+91 11) 2436 0100; Fax: (+91 11) 2436 1018;
Website: www.ntpc.co.in; Executive Director & Company Secretary and Compliance Officer: Mr. A.K. Rastogi; Tel: (+91 11) 2436 0071; Fax: (+91 11) 2436 0241; E-mail:
akrastogi@ntpc.co.in
THE PROMOTER OF OUR COMPANY IS THE PRESIDENT OF INDIA, ACTING THROUGH THE MINISTRY OF POWER, GOVERNMENT OF INDIA (GOI)
(MOP)
PUBLIC ISSUE BY NTPC LIMITED (COMPANY OR ISSUER OR NTPC) OF TAX-FREE SECURED REDEEMABLE NON-CONVERTIBLE BONDS OF FACE
VALUE OF ` 1,000 EACH, IN THE NATURE OF DEBENTURES HAVING TAX BENEFITS UNDER SECTION 10(15)(iv)(h) OF THE INCOME TAX ACT, 1961, AS AMENDED (INCOME TAX ACT AND SUCH BONDS, BONDS), FOR AN AMOUNT AGGREGATING UP TO ` 1,000 CRORE (BASE ISSUE SIZE) WITH AN OPTION TO RETAIN OVERSUBSCRIPTION UP TO ` 750 CRORE FOR ISSUANCE OF ADDITIONAL BONDS AGGREGATING TO A TOTAL OF UP TO ` 1,750 CRORE*, (ISSUE SIZE) IN FISCAL 2014 (ISSUE).
The Issue is being made under the Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008, as amended (SEBI Debt Regulations) and
pursuant to Notification No. 61/2013.F.No.178/37/2013-(ITA.1) dated August 8, 2013 issued by the Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, GoI
(MoF) (CBDT Notification), by virtue of powers conferred on it under Section 10(15)(iv)(h) of the Income Tax Act.
*In terms of the CBDT Notification, our Company is authorized to raise a minimum of 70.00% of the Issue Size, by way of public issue and during the process of the public issue(s), our
Company may also, at its discretion, raise Bonds through private placement route for an amount not exceeding 30.00% of the Issue Size, wherein suitable amount shall be earmarked for
sovereign wealth funds, pension and gratuity funds. In case our Company issues bonds through private placement route, the amount of oversubscription that may be retained through
public issue shall stand reduced accordingly. Our Company shall ensure that bonds issued pursuant to the CBDT Notification through public issue route and private placement route in
fiscal 2014 shall, in aggregate, not exceed ` 1,750 crore. GENERAL RISKS
Investors are advised to read the risk factors carefully before making an investment decision in relation to the Issue. For making an investment decision, investors must rely on their own examination of
our Company and the Issue, including the risks involved. Specific attention is invited to Risk Factors on page 13 and Material Developments on page 118. This document has not been and will not
be approved by any regulatory authority in India, including the Securities and Exchange Board of India (SEBI), the Reserve Bank of India (RBI), any registrar of companies or any stock exchange
in India.
ISSUERS ABSOLUTE RESPONSIBILITY
The Issuer, having made all reasonable inquiries, accepts responsibility for and confirms that the Draft Prospectus contains all information with regard to the Issuer and the Issue which is material in the
context of the Issue that the information contained in the Draft Prospectus is true and correct in all material respects and is not misleading in any material respect, that the opinions and intentions
expressed herein are honestly held and that there are no other material facts, the omission of which makes the Draft Prospectus as a whole or any such information or the expression of any such opinions
or intentions misleading in any material respect.
CREDIT RATING
ICRA Limited (ICRA) has, by its letter (No. D/RAT/2013-14/N3/2) dated July 16, 2013, assigned a rating of [ICRA] AAA (Stable) to the Bonds, and revalidated such rating by letter (No.
D/RAT/2013-14/N3/3) dated November 8, 2013. Instruments with this rating are considered to have the highest degree of safety regarding timely financing of obligations and carry lowest credit risk.
Further, CRISIL Limited (CRISIL) has, by its letter (No. VK/CGS/NTPCLTD/JUN13/90014) dated June 3, 2013, assigned a rating of CRISIL AAA to the Bonds, and revalidated such rating by letter
(No. VK/NTPCL/SN26294) dated November 8, 2013. Instruments with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations and carry lowest
credit risk. These ratings are not a recommendation to buy, sell or hold securities, and investors should take their own decision. These ratings are subject to revision or withdrawal at any time by the
assigning rating agency (ies) and should be evaluated independently of any other ratings. For the rationale for these ratings, see Annexure B Credit Rating.
PUBLIC COMMENTS
The Draft Prospectus has been filed with BSE Limited (BSE), being the Designated Stock Exchange, and the National Stock Exchange of India Limited (NSE) (together, Stock Exchanges)
pursuant to Regulation 6(2) of the SEBI Debt Regulations. The Draft Prospectus shall be uploaded by the Stock Exchanges on their respective websites, www.bseindia.com and www.nseindia.com, and
is open for public comments for 7 Working Days from the date of filing of this Draft Prospectus. All comments on the Draft Prospectus are to be forwarded to the attention of Mr. A.K. Rastogi,
Executive Director & Company Secretary and Compliance Officer at the registered office, at the following address: NTPC Bhawan, SCOPE Complex, 7, Institutional Area, Lodhi Road, New Delhi 110
003 (Registered Office); Fax: (+91 11) 2436 0241; E-mail: akrastogi@ntpc.co.in. All comments from the public must be received by our Company within 7 Working Days of the date of filing of the
Draft Prospectus with the Stock Exchanges, i.e., not later than 5 P.M. (Indian Standard Time) on the 7th Working Day. Comments may be sent through post, fax or e-mail.
LISTING
The Bonds are proposed to be listed on BSE and NSE. We have obtained in-principle listing approvals for the Bonds by letter (No. []) dated [] from BSE and letter (No. [],) dated [] from NSE. The
Designated Stock Exchange for the Issue is BSE.
LEAD MANAGERS
A. K. CAPITAL SERVICES LIMITED
30-39, Free Press House, 3rd Floor,
Free Press Journal Marg, 215, Nariman Point, Mumbai 400 021
Tel: (+91 22) 6754 6500/6634 9300
Fax: (+91 22) 6610 0594
Email: ntpctfbonds13@akgroup.co.in Investor Grievance Email:
investor.grievance@akgroup.co.in
Website: www.akcapindia.com Contact Person: Mr. Mandeep Singh/Mr.
Lokesh Singhi
Compliance Officer: Mr. Vikas Agarwal
SEBI Registration No.: INM000010411
AXIS CAPITAL LIMITED
1st floor, Axis House, C-2 Wadia
International Centre, P.B. Marg, Worli, Mumbai 400 025
Tel: (+91 22) 4325 2525
Fax: (+91 22) 4325 3000
E-mail: ntpctaxfree@axiscap.in Investor Grievance Email:
complaints@axiscap.in
Website: www.axiscapital.co.in Contact Person: Mr. Akash Aggarwal
Compliance Officer: Mr. M. Natarajan
SEBI Registration No.: INM000012029
ICICI SECURITIES LIMITED
ICICI Centre, H.T. Parekh Marg, Churchgate,
Mumbai 400 020 Tel: (+91 22) 2288 2460
Fax: (+91 22) 2282 6580
Email: project.ntpc@icicisecurities.com
Investor Grievance Email: customercare@icicisecurities.com
Website: www.icicisecurities.com
Contact person: Mr. Mangesh Ghogle/Mr. Sumit Agarwal
Compliance Officer: Mr. Subir Saha
SEBI Registration No.: INM000011179
KOTAK MAHINDRA CAPITAL
COMPANY LIMITED
27 BKC, 1st Floor, Plot No. C 27, G Block, Bandra Kurla Complex, Bandra (East),
Mumbai 400 051
Tel: (+91 22) 4336 0000
Fax: (+91 22) 67132447 E-mail: project.ntpcbonds@kotak.com
Investor Grievance: E-mail:
kmccredressal@kotak.com; Website: www.investmentbank.kotak.com
Contact Person: Mr. Ganesh Rane
Compliance Officer: Mr. Ajay Vaidya
SEBI Registration Number: INM000008704
SBI CAPITAL MARKETS
LIMITED
202, Maker Tower E, Cuffe Parade, Mumbai 400 005
Tel: (+91 22) 2217 8300
Fax: (+91 22) 2218 8332
Email: ntpcbonds2013@sbicaps.com Investor Grievance Email:
investor.relations@sbicaps.com
Website: www.sbicaps.com Contact person: Ms. Shikha
Agarwal/Mr. Nithin Kanuganti
Compliance Officer: Mr. Bhaskar
Chakraborty SEBI Registration No.: INM000003531
REGISTRAR TO THE ISSUE BOND TRUSTEE#
KARVY COMPUTERSHARE PRIVATE LIMITED
Plot No. 17 to 24, Vithalrao Nagar, Madhapur, Hyderabad 500 081
Tel: (+91 40) 4465 5000;Fax: (+91 40) 2343 1551;E-mail: ntpc.bond@karvy.com; Investor Grievance Email:
einward.ris@karvy.com; Website: http://karisma.karvy.com;
Contact Person: Mr. M. Murali Krishna; SEBI Registration Number: INR000000221
IL&FS TRUST COMPANY LIMITED
The IL&FS Financial Centre, Plot C 22, G Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051
Tel: (+91 22) 2653 3908;Fax: (+91 22) 2653 3297;Email: itclcomplianceofficer@ilfsindia.com; Investor Grievance Email:
investorgrievances.it