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Neyveli Lignite to raise Rs1,850 cr

Neyveli Lignite to raise Rs1,850 cr
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First Published: Fri, Jan 02 2009. 09 48 AM IST
Updated: Fri, Jan 02 2009. 09 48 AM IST
Mumbai: Neyveli Lignite Corp’s board has approved raising of up to Rs1,850 crore worth capital through various means, the company statement said on Friday.
The company board has given an in-principle approval to raise Rs1,250 crore, either through local-currency term loan or external commercial borrowings or by way of issuing bonds, the statment said.
The coal miner and power generator also plans to raise Rs500 crore through secured non-convertible taxable bonds by way of private placement, with an option to retain oversubscription of Rs100 crore, it said.
The company intends to raise capital for the projects presently under implementation.
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First Published: Fri, Jan 02 2009. 09 48 AM IST
More Topics: Neyveli Lignite | Capital | Markets | India | Coal |