CESC to raise Rs 350 crore through securities
26th Jun 2019

CESC will seek shareholders’ approval to raise Rs 350 crore through various modes of securities next month. The annual general meeting (AGM) of the company will be held on July 19, 2019.

The company will also seek shareholders approval to get term loan of Rs 200 crore from Union Bank of India and Rs 300 crore each from State Bank of India and Bank of Baroda to part finance its capital expenditure. Under the special resolution, the company also sought shareholders’ nod to avail incremental working capital facility of Rs 150 crore from Bank of Baroda and Rs 30.65 crore from State Bank of India.

CESC is engaged in power generation and distribution in state of West Bengal. The company is a fully integrated power utility with its operation spanning the entire value chain right from mining coal, generating power and distribution of power.