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

New Delhi: State-owned NLC India Ltd on Monday said its board has approved raising up to Rs 5,000 crore through issuance of debentures in the ongoing financial year.

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

“The board of directors approved the following issuance of bonds in the nature of debentures up to Rs 5,000 crore in tranches during the FY 2023-24,” the company said in a regulatory filing.

Under the Ministry of Coal, NLC India operates three opencast lignite mines having a total of capacity 30 million tonnes per annum (MTPA) at Neyveli in Tamil Nadu, one opencast lignite mine at Barsingsar in Rajasthan with an installed capacity of 2.10 MTPA and an open cast coal mine at Talabira in Odisha with an installed capacity of 20 MTPA.

The company is also into production of thermal as well as renewable energy-based power.