Hitachi Energy Seeks Approval for Rs 11,500 Crore Borrowing Expansion

Hitachi Energy India aims to increase its borrowing limit to Rs 11,500 crore due to anticipated business growth and new projects. The current borrowing limit stands at Rs 6,500 crore. The Board of Directors approved the proposal, which now awaits shareholder approval. Results will be announced on March 25.

Hitachi Energy India announced on Thursday its pursuit to expand its borrowing limit to Rs 11,500 crore, reflecting expected business growth and forthcoming projects.

Presently capped at Rs 6,500 crore, the proposed increase has been sanctioned by the Board of Directors in their meeting on January 29, 2025, aiming specifically to augment non-fund based limits.

The company anticipates an uptick in business, driven by high-value projects necessitating Letters of Credit or Bank Guarantees, thereby escalating non-fund based requirements. Shareholders' votes will be revealed on March 25.