NEW DELHI: NTPC Ltd is looking to raise up to $750 million (about Rs 6,222 crore) in debt from foreign investors.

According to the request for proposal by the company, the proposed facility is being raised under automatic route as permitted under External Commercial Borrowing (ECB) guidelines of the RBI.

“NTPC is looking to raise External Commercial Borrowing (ECB) in the form of unsecured term loan...equivalent to $500 million plus green shoe option of EUR equivalent to $250 million,” it said.

NTPC said the bids from banks/financial institutions should be a comprehensive, unconditional, firm and fully underwritten offer for the full amount of the proposed facility. Last date to submit the bid is February 21. NTPC, under the Ministry of Power, is the country’s largest power producer.