State-owned REC has got shareholders' approval to raise up to Rs 85,000 crore through issuance of non-convertible bonds or debentures. "All resolutions as set out in the Notice of 52nd AGM of the company have been duly approved & passed by the shareholders with requisite majority," a BSE filing said on Monday. The funds would be raised on private placement basis in one or more tranches, according to the notice for 52nd Annual General Meeting (AGM) held on September 24, 2021. "It is proposed to pass a special resolution to enable the company to raise funds through private placement of unsecured/secured non-convertible bonds/debentures up to Rs 85,000 crore, during a period of one year (from September 23, 2022)," the notice had said. Further, it had said the amount planned to be raised shall be within the overall revised borrowing limit, being proposed for approval by the shareholders. The company had also proposed alteration to Objects Clause of Memorandum of Association of the ...
KHEL is the first JV being undertaken between the two governments for implementation of the 4x150 MW Kholongchhu hydroelectric project
REC raised just over Rs 3,600 crore through a 15-year paper carrying coupon of 7.4 per cent.
Dealers said the PSU may have tied up with investors before launching the issue. There may be some anchor investors.
SBI Cards and Payment Services had raised Rs 550 crore by issuing bonds on a private placement basis
The firm has raised the money through issuance of notes (bonds) under its $7 billion Global Medium Term Note Programme which would be used to finance the power sector
The RBI has proposed that the payouts from next financial year will depend upon factors such as capital adequacy, non-performing asset ratio and leverage ratio.
Its consolidated net profit had stood at Rs 1,322.47 crore in the corresponding quarter of the previous financial year, according to a BSE filing
Stress in conventional power generation space and no new private investment in the sector see the two lenders gradually shift to newer areas
"The consent of the Members is sought for increasing the borrowing limit from Rs 3.5 trillion to Rs 4.5 trillion to cover the further requirement of borrowings," as per the AGM notice
While state government guarantee offers comfort, operational inefficiency may continue to impact debt servicing ability of electricity distributors, say experts; the two stocks are down 10-13 per cent
The settlement date for the notes is expected to be December 12, 2019
The project will be implemented at an estimated project cost of Rs 5,748 crore which includes the bid amount
Though analysts have turned positive, stocks remain prone to asset quality shocks
Margins may remain under pressure; liquidity, availability of funds not major concerns
REC has reported a 28 per cent increase in its profit after tax
Total income marginally fell to Rs 5,958 cr
Shares of the company closed at Rs 230.45, down 0.50 per cent on the BSE on Friday
The stock was up 3.9% at Rs 232 on the BSE, as compared to 0.14% decline in the S&P BSE Sensex at 10:11 am.
Power distribution companies as well as open access and captive consumers are under obligation to buy RECs