REC gets shareholders' nod to raise up to Rs 75,000 cr via bonds

State-owned REC Ltd on Friday said it has got shareholders' approval to raise up to Rs 75,000 crore through bonds or debentures on a private placement basis in the next one year.

The shareholders have approved the proposal for raising of funds through issue of unsecured/secured non-convertible bonds/debentures through private placement, up to an amount of Rs 75,000 crore, in one or more tranches, in the annual general meeting held on August 29, the company said in a BSE filing.

The funds will be raised from time to time during a period of one year from August, 29, 2019.