The funds are proposed to be raised through issuance of debentures on private placement basis during a period of one year from the date of passing of the resolution, in one or more tranches, as per the AGM notice.
The company had proposed to issue one new (bonus) share for holding three existing shares to shareholders, as per a postal ballot notice of the REC.
The board has fixed August 18, 2022 as a record date for ascertaining entitlement of eligibility of shareholders for bonus shares.
New Delhi, May 19 Vivek Kumar Dewangan, an Additional Secretary in the Ministry Power, has been appointed as the CMD of state-owned REC Limited, ac..
You can invest up to Rs 50 lakh in a financial year in capital gains tax exemption bonds to minimise liabilities on long-term capital gains from transfer of capital assets.
The total borrowing plan approved by the board is for Rs 85,000 crore for 2022-23. According to the filing, the company has planned to raise Rs 75,000 through the issuance of bonds, term loans, and external commercial borrowings.
According to the statement, this is the single largest syndicated loan raised in the International Bank Loan market by any Indian NBFC.
Shitij Gandhi of SMC Global expects market to trade with bullish bias in the upcoming week as long as Nifty holds above 17,400-mark. Traders should use any dip to create fresh longs, he advises.
The company had also proposed alteration to Objects Clause of Memorandum of Association of the company to explore business opportunity in other areas like funding of infrastructure projects like road, railways, ports, bridges, gas pipelines.
The stock hit a 52-week high of Rs 167.75 on 9 June 2021 and since then, has been consolidating in a narrow range. But, the recent price action suggests that the stock could challenge its 52-week highs in the next 2-3 months.
The notes will be listed on London Stock Exchange's International Securities Market (ISM), Singapore Exchange (SGX-ST), Global Securities Market of India International Exchange (India INX) and NSE IFSC.
The new lending rates will be effective from April 1, 2021. This initiative was undertaken to offer competitive rates, in line with the rates being offered by peers in the market.