NLC India, a state-owned company, announced on Monday that it had received approval from its board to raise up to Rs 5,000 crore through the issuance of debentures in the ongoing financial year.
Additionally, the board approved the incorporation of a wholly-owned subsidiary company to take over existing renewable assets.
NLC India currently operates three opencast lignite mines with a total capacity of 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 also produces thermal and renewable energy-based power.
The board meeting was held on May 8, 2023, and began at 12:00 noon, concluding at 15:15 hours.
The approval of this proposal will be subject to compliance with all regulations of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other applicable laws.