Business Standard

Power Finance Corp board approves plans to raise Rs 80,000 cr in FY24

State-owned Power Finance Corporation (PFC) on Tuesday said its board has approved raising up to Rs 80,000 crore through various financial instruments

Power, Electricity

Press Trust of India New Delhi
State-owned Power Finance Corporation (PFC) on Tuesday said its board has approved raising up to Rs 80,000 crore through various financial instruments.
An amount of Rs 40,000 crore will be raised through long-term domestic borrowings, and another Rs 20,000 crore by way of long-term foreign currency borrowing, according to a filing.
Besides, proposals have been approved for raising up to Rs 20,000 crore through short-term borrowings and commercial paper.
The proposals approved are for raising fund during the financial year 2023-24, the company said.
PFC, under the Power Ministry, is a leading non-banking financial company (NBFC).

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mar 21 2023 | 11:31 PM IST

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