REC Ltd's Board on March 27 approved the PSU firm's overall market borrowing programme worth Rs 1.6 lakh crore for FY25.
The firm's Board approved Rs 1.45 lakh-crore market borrowing programme for FY25 through domestic bonds/debentures.
REC's Board also approved raising Rs 15,000 crore short term loan from banks/ Fls/ NBFCs etc and commercial papers.
"Funds under the proposed borrowing programme for the financial year 2024-25 shall be raised for different maturities, through different instruments, depending upon the actual requirement of funds, asset-liability position and prevailing market conditions, with the approval of Competent Authority as per the powers delegated in this regard by the Board of Directors," said REC in a stock exchange filing. The Board has approved the amendment in 'Policy on Criteria for determining Materiality of Events or Information for disclosure to Stock Exchanges'.
On March 27, REC's shares on BSE closed nearly 3 percent lower at Rs 447.8.
REC, a non-banking finance company, provides financing to power infrastructure projects in the country. It meets the funding requirements through borrowings.
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