Power Finance Corporation (PFC) has received its shareholders’ approval for raising up to Rs 55,000 crore via issue of securities. The company has also received nod for raising its borrowing limit to Rs 4 crore at the company’s annual general meeting held on August 19, 2016.
Moreover, the company has got shareholders’ nod to raise Rs 5,000 crore by issuance of bonds for Power Ministry in addition to its total borrowing limit to Rs 4 lakh crore.
PFC’s shareholders also approved the proposal to increase the authorised share capital from Rs 2,000 crore, comprising of 200 crore equity shares of Rs 10 each to Rs 10,000 crore comprising of 1,000 crore equity shares of Rs 10 each.
PFC provides large range of financial products and services like project term loan, lease financing, direct discounting of bills, short term loan, and consultancy services for various power projects in generation, transmission, distribution sector as well as for renovation and modernization of existing power projects.
