Rural Electrification Corp is in the process of issuing Rs 1,500 crore worth five-year bonds in order to raise capital for funding power projects. The state-run lender has fixed an annual coupon of 8.70 per cent for the bonds. It may be noted that the financial institution scrapped the plans of raising funds in the s
Tag: REC
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Shunglu report: Can SEBs finally breathe easier?
Under pressure from banks, who are refusing to lend, state utilities are poring over the new reports by Shunglu and BK Chaturvedi Committees. Is franchise the best way forward, though? At 31 percent, the national average on AT&C losses are unacceptably high. Quantified, this amounts to nearly Rs 70,000 crore of losses, and the Finance Commission fears that this amount will rise to Rs 1.16 lakh crore by 2014-15.
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Fourth CMD in 2 years
Quick turnovers are not the salient feature of a vibrant economy alone, it seems. Rural Electrification Corporation (REC) has seen turnovers of a different kind: four CMDs in two years. Rajeev Sharma takes over the reins from HD Khunteta who took over from JM Phatak only in May last year for a period of “three months or until further ordersâ€. He served for seven months, while Phatak was CMD for less than a year.
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REC plans Rs 1,000 cr infra bonds
Rural Electrification Corporation (REC) plans to raise Rs 1,000 crore by issuing tax-saving infrastructure bonds in the current financial year.
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Power, telecom cos raise foreign funds
The Centre had approved companies' fund raising worth Rs 60,950 crore through extÂernal commercial borrowing (ECB) or foreign currency cÂoÂnvertible bonds (FCCB) for inÂfrastructure projects in the last two financial years.
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Insuredly Yours
LIC's total assets (Rs 12 lakh crore) almost match the amount the Railways are going to spend on infrastructure over the next 10 years.