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.
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.
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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.
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