REC Board Approves Borrowing Plan of Rs 85,000 cr for 2022-23
The board of state-run REC on Monday approved a proposal to raise up to Rs 85,000 crore in 2022-23, which includes Rs 75,000 crore from different types of bonds, loans terms, external commercial loans, among others.
“The REC Ltd Board of Directors at its meeting on March 21, 2022, notably approved the market borrowing program under various debt segments for the financial year 2022-23,” says a BSE filing. .
The total borrowing plan approved by the board is Rs 85,000 crore for 2022-23.
According to the filing, the company planned to raise Rs 75,000 through the issuance of bonds, term loans and external commercial loans.
He will also raise Rs 5,000 crore through short term loan from Banks/Fls/NBFC etc. The company has also planned to raise Rs 5,000 crore through commercial papers.
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