NLC India issues commercial paper worth 1,000 cr

NLC India Ltd on Monday said it has raised Rs 1,000 crore from by issuing commercial papers to meet the standalone business operation requirements. "NLC India Ltd has issued and allotted 20,000 nos of commercial paper of face value of Rs 5,00,000 each aggregating to Rs 1,000 crore in favor of State Bank of India on 20.04.2020," the PSU said in a BSE filing.

The fund, the filing said, will be utilized to meet the standalone business operation requirements of the company. NLC India, the Navratna company under the Ministry of Coal, is into coal and lignite mining and power generation.