PSU NEWS

NLC India board gives green flag to raise Rs 5,000 cr via bonds

  • by Psu Connect
  • Date: 09-05-23

The board also approved the incorporation of a wholly Owned Subsidiary Company to take over the existing renewable assets.

NLC India board gives green flag to raise Rs 5,000 cr via bonds
NLC India Limited, a central public sector undertaking under the administrative control of the Ministry of Coal, GoI/(Representational image)

New Delhi: NLCIL (Neyveli Lignite Corporation India Limited), a central PSU on Monday informed that the Board of Directors at their meeting held on May 8, 2023, inter-alia have considered and approved the issuance of Bonds in the nature of Debentures up to Rs.5000 Crore in tranches during the FY 2023-24. 

The board also approved the incorporation of a wholly Owned Subsidiary Company to take over the existing renewable assets in the name of “NLC India Renewables Limited” or any other name as may be made available / approved by the Ministry of Corporate Affairs.

 

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The board meeting commenced at 12:00 noon and concluded at 3:15 pm.

NLCIL has undertaken various projects in the areas of power generation, lignite mining, and renewable energy, and is committed to providing reliable and affordable power to the country while also diversifying its energy mix and reducing its carbon footprint through the development of renewable energy projects.

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