PFC gets shareholders' nod to raise up to Rs 65,000 cr via debt

State-run Power Finance Corporation (PFC) has received shareholders' approval to raise up to Rs 65,000 crore through issuance of securities on private placement basis.

The shareholders have approved the proposal with "requisite majority" at its Annual General Meeting held on September 20, the company said in a filing to BSE.

PFC is one of the leading lenders to the power sector.

The company had earlier said that a special resolution is listed for seeking approval to "raise funds up to Rs 65,000 crore through issue of bonds/debentures/notes/debt securities on private placement basis in India and/or outside India."

PFC, an infrastructure finance company, is engaged in providing financial assistance to state power utilities for meeting the financing and development requirements of the power sector.