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.
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The 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.
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