PFC gets nod to raise Rs 70,000 crore in one year
31st Jul 2019

Power Finance Corporation (PFC) has received approval from its board for raising Rs 70,000 crore by issuance of bonds, debentures, notes and debt securities from domestic and international markets on a private placement basis. The proposal would be placed for shareholders’ approval in an annual general meeting of the company on August 27.

Once approved by the shareholders, the company would be able to raise Rs 70,000 crore in a period of one year from the AGM.

PFC provides large range of financial products and services like project term loan, lease financing, direct discounting of bills, short term loan, and consultancy services for various power projects in generation, transmission, distribution sector as well as for renovation and modernization of existing power projects.