NLC India board approves raising up to Rs 5,000 crore through bonds

NLC India Ltd, on Monday, said its board has approved raising up to Rs 5,000 crore through the issuance of debentures in the current financial year (FY2023-24).

NLC India’s board has also approved a proposal for the incorporation of a wholly-owned subsidiary company to take over the existing renewable assets.

In a regulatory filing, NLC India said, “The board of directors will consider and approve 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 Ministry of Corporate Affairs.”