REC is planning to raise up to Rs 75,000 crore through issuance of bonds. The funds are proposed to be raised through issuance of debentures on private placement basis during a period of one year from the date of passing of the resolution, in one or more tranches. The annual general meeting (AGM) of shareholders is scheduled for September 16, 2022 to consider the same.
The company will also seek shareholders' approval to authorize the board to mortgage/create charge on immovable and/or movable properties of the company, for securing loan up to Rs 4,50,000 crore.
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.
| Company Name | CMP |
|---|---|
| Power Finance Corp | 461.00 |
| REC | 359.35 |
| Indian Railway Fin. | 106.05 |
| NHIT | 160.00 |
| Satin Creditcare | 212.55 |
| View more.. | |
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