REC Ltd Board revises market borrowing programme for FY25 to Rs 1.8 lakh crore
The funds from this revised borrowing program will be raised periodically throughout the fiscal year 2024-25, subject to approval from the competent authority as per the powers delegated by the Board of Directors.
REC Ltd Board revises market borrowing programme for FY25 to Rs 1.8 lakh crore
State-owned REC Ltd. has announced that its board of directors has approved an increase in the company's market borrowing program from Rs 1.6 lakh crore to Rs 1.8 lakh crore for the fiscal year 2025.
The borrowing will encompass various instruments, including bonds and debentures, term loans, external commercial borrowings, and commercial papers, with the allocation for the financial year 2024-25 set to rise from Rs 60,000 crore to Rs 80,000 crore through private or public placements.
The funds from this revised borrowing program will be raised periodically throughout the fiscal year 2024-25, subject to approval from the competent authority as per the powers delegated by the Board of Directors.
REC Ltd shares were down 2.12% at Rs 2,404.4 apiece at 2.10 pm on Friday, March 7. The stock has declined 31.42% in the past six months.
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