REC seeks shareholders nod to raise up to Rs 85,000 cr via bonds, debentures

New Delhi: State-owned REC NSE -0.16 % will seek shareholders’ approval to raise up to Rs 85,000 crore through issuance of non-convertible bonds or debentures next month. The funds would be raised on private placement basis in one or more tranches, according to the notice for 52nd Annual General Meeting (AGM) to be held on September 24, 2021.