REC Ltd Plans Massive Rs 1.7 Lakh Crore Boost Through Bonds and Loans

REC Ltd has announced plans to raise Rs 1.7 lakh crore through domestic bonds, capital gain tax-exempted bonds, and Rupee term loans in the next fiscal year. The announcement came after a board meeting which also appointed Parminder Chopra as Additional Director and Acting CMD.

State-owned power giant, REC Ltd, has declared its intention to raise a staggering Rs 1.7 lakh crore through various financial instruments in the upcoming financial year. This decision was made following a recent board meeting.

The comprehensive borrowing plan, slated for 2025-26, features Rs 1.55 lakh crore to be accrued via domestic bonds, bonds exempt from capital gain tax, Rupee term loans sourced from financial institutions, banks, and external commercial borrowing avenues.

Additionally, the strategy includes generating Rs 10,000 crore through short-term loans and Rs 5,000 crore via commercial papers. In a significant development, Parminder Chopra, CMD of Power Finance Corporation Ltd, has been appointed as Additional Director with extra duties as CMD of REC.

(With inputs from agencies.)