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Rural Electrification Corporation to seek shareholder nod to raise Rs 50,000 crore

New Delhi: Rural Electrification Corporation (REC) on Sunday said it will seek shareholder’s nod on September 21 for raising Rs50,000 crore through issue of non- convertible debentures. In a filing to the BSE, REC said the company can issue via private placement unsecured/secured non-convertible bonds/ debentures up to Rs50,000 crore during a period of one year from the date of passing of this resolution. Earlier this month, the board of REC had cleared the fund raising plans.

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