PSU NEWS
REC to raise funds of up to Rs 1.45 lakh crore through bonds issue
The funds will be raised in multiple tranches over one year following the resolution's approval by shareholders, with necessary approvals from the competent authority as per the board of directors of the respected company.
State-owned REC Ltd has announced a proposal to raise Rs 1,45,000 crore through the private placement of unsecured and secured non-convertible bonds and debentures with pending shareholder approval at the upcoming annual general meeting (AGM).
The funds will be raised in multiple tranches over one year following the resolution's approval by shareholders, with necessary approvals from the competent authority as per the board of directors of the respected company.
Read Also : IndusInd Bank Q1 FY25 results, net profit at 2% YoYThe proposal of the raising of funds through Private Placement of Unsecured /Secured Non-Convertible Bonds/ Debentures of up to Rs1,45.000 crore, subject to the approval of shareholders in this regard in the ensuing Annual General Meeting (AGM)," the company said.
Read Also : RBI issues guidelines on higher liquidity coverage ratio for retail depositsNews Must Read
- Karnataka Bank Announced record Q1 Net Profit at Rs. 400.33 CR
- NTPC, BHEL shares soar higher amid JV announcement in Budget 2024
- BEL signs tripartite MoU for manufacture of indigenised ammunition
- Goa Shipyard Limited launched first indigenous P1135.6 Frigate
- Chandan Sinha appointed as Non-Executive Part Time Chairman of RBL Bank
- OIL and Dolphin Drilling signs contract for hiring of Blackford Dolphin
- Cmde D.K. Murali, IN (Retd.) Joins as CMD of BECIL
- Samir Chandra Saxena Appointed as Director (Market Operation) of GRID-INDIA
- MOIL CMD bags Title 'CEO of the Year'
- ONGC sign MoU with GSI to advance geothermal exploration in Ladakh