02 January,2009 03:10 PM IST | | PTI
State-run Neyveli Lignite Corporation on Friday said it will raise Rs 1,750 crore through issue of bonds in order to meet capital expenditure requirement for presently running projects.
The directors of the company at its meeting on December 26, 2008, has approved to raise Rs 500 crore by issuing secured non-convertible taxable bonds and Rs 1,250 crore by borrowing debt, Neyveli Lignite informed in a filing to the Bombay Stock Exchange.
The board has approved to raise Rs 500 crore by way of private placement issuing bonds and received in-principle approval to borrow the balance debt portion of Rs 1,250 crore by way of loan and external commercial borrowings in one or more branches.
