Power Finance Corp to raise Rs 65,000 crore via debt

Power Finance Corporation today said it will seek shareholders' nod to raise up to Rs 65,000 crore through issuance of securities on private placement basis.

State-owned Power Finance Corp (PFC), which is a one of the leading lenders to the power sector, has sought shareholders' nod at the 31st annual general meeting to be held on September 20.

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," the company said in a filing to BSE.

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.