PFC gets shareholders' nod to raise Rs 70K cr in one year

State-run Power Finance Corporation (PFC) on Tuesday said its has received shareholders' approval to raise Rs 70,000 crore by issuance of bonds, debentures, notes and debt securities in domestic and international markets. The proposal was approved with the requisite majority of shareholders in the annual general meeting held on August 27, according to a statement.

After shareholders approval, the company would be able to raise Rs 70,000 crore in a period of one year from the AGM (August 27, 2019). The board of directors of the company approved the proposal to raise Rs 70,000 crore in its meeting held on July 30.