REC Ltd. Board approves borrowing limit of Rs 1.6 lakh crore
The Board has also approved the amendment in 'Policy on Criteria for determining Materiality of Events or Information for disclosure to Stock Exchanges', per Regulation 30 of the SEBI.
The Board members of the State-owned REC Ltd on Wednesday approved an overall borrowing limit of Rs 1,60,000 crore for 2024-25. The board members after the meeting have approved a borrowing limit of Rs 1.6 lakh crore, including Rs 1,45,000 bonds and term loans, Rs 5000 crore of short-term loans along with Rs 10,000 crore of commercial papers as per REC filing on exchange.
Funds under the proposed borrowing program for 2024-25 shall be raised for different maturities, through different instruments, depending upon the actual requirement of funds, asset-liability position, and prevailing market conditions, with the approval of the Competent Authority, the filing stated.
Read Also : T. Rabi Sankar re appointed as Deputy Governor of RBIThe company plans to borrow ?5,000 crores through short-term loans from banks, financial institutions, and NBFCs, excluding loans of less than six months, an overdraft facility, or any other arrangement of a similar nature.
The Board has also approved the amendment in 'Policy on Criteria for Determining Materiality of Events or Information for Disclosure to Stock Exchanges', under Regulation 30 of the SEBI.
Read Also : Yes Bank Announces Financial Results for the Q4FY24News Must Read
- NCL General Manager (Finance) D Sunil Kumar recommended for SECL Director (Finance)
- Bank of Maharashtra Q4 results, Net Profit increased by 44.95 percent to Rs 1,218 crore
- Axis Bank Overtakes Kotak Mahindra Bank to Become India's Fourth Most Valued Lender
- LIC cuts stakes in major PSU stocks
- SJVN CMD Geeta Kapur Inaugurates Construction Works at Sunni Dam Project in Himachal Pradesh
- PESB Selects R Veerabahu as Director (Finance) for Braithwaite & Co. Limited
- Grew Energy bags largest order of 200 MW Contract of SECI's Auction
- CPCL Reports 39% YoY Drop in Q4 Net Profit, Declares Rs 55 per Share Dividend
- SJVN Limited inaugurates India's first Multi-purpose Green Hydrogen Pilot Project
- KRDCL, RVNL JV emerges as the Lowest Bidder for Redevelopment of Thiruvananthapuram Central Railway Station