GAIL (India) said that its board has approved a proposal to raise funds upto Rs 25,000 crore or $3.125 billion in one or more tranches.
The company said that the fund raising could be in form of Rupee Term loan or issuing non-convertible debentures or bonds in the domestic market upto the limit of Rs 25,000 crore.The funds may also be raised in through foreign currency term loan or bond or note or external commercial borrowing upto the limit of $3.125 billion.
The state-owned GAIL (India) is one of the largest natural gas processing & distribution company. The Government of India held 51.89% stake in Gail (India) as on 30 June 2022.
The company reported 52.16% jump in consolidated net profit to Rs 3,252.95 crore on a 115.7% surge in revenue from operations to Rs 37,942.15 crore in Q1 FY23 over Q1 FY22.
Shares of GAIL (India) rose 0.70% to Rs 135.85 on the BSE.
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