Power Finance Corporation Ltd.

Power Finance Corporation (PFC) has received shareholders’ approval to raise around Rs 44,000 crore through issue of securities in the current financial year. Shareholders have also authorised PFC’s board to mortgage or create charge on assets of the company for securing loan.

Another proposal, that has been cleared, is increasing the limit for raising funds in Indian rupees to Rs 4,00,000 crore from the existing level of Rs 2,00,000 crore, and in any foreign currency equivalent to $8 billion from the present level of $4 billion.

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.