Saturday, October 10
Shares of REC Ltd rose 2.2% to Rs 409.70 on the BSE on Thursday after the company’s Board of Directors, in a meeting held on June 4, approved a Rs 1.55 lakh crore fundraising plan and the striking off of a project-specific subsidiary.Here are the details:Rs 1.55 lakh crore fundraising planThe board of REC on Wednesday gave a green signal to raise funds of up to Rs 1.55 lakh crore through the private placement of unsecured/secured non-convertible bonds or debentures.The fundraising is subject to shareholder approval at the upcoming Annual General Meeting (AGM) and will be executed in one or more tranches over a one-year period following the AGM resolution, pending approval from competent authorities.SPV strike-off: Rajgarh III Power Transmission LtdIn another key development, REC also app
