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REC seeks shareholders' approval to raise borrowing limit

05 Sep 2020 Evaluate

REC is seeking shareholders' approval to raise its overall borrowing limit to Rs 4.5 lakh crore from the existing Rs 3.5 lakh crore. The company's 51st annual general meeting (AGM) is scheduled to be held on September 25.

REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric cooperatives for rural electrification projects as are sponsored by them.

Peers
Company Name CMP
Power Finance Corpn. 325.25
REC 299.75
NHIT 168.00
Satin Creditcare Net 224.50
IFCI 64.02
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