Through different instruments including overseas markets, government-run Rural Electrification Corporation (REC) is to raise over Rs 37,000 crore in this fiscal, the Corporation CMD Rajeev Sharma stated. He said that through bonds, external commercial borrowings (ECBs), the Corporation will raise the amount.
Sharma said this in Mumbai on August 29. Through issue of tax-free bonds, the Corporation already has a plan to raise Rs 5,000 crore.
The bond issue carries a coupon rate ranging from 8.01 per cent to 8.46 per cent on per annum basis, will open on August 30 and closes on September 23. With a face value of Rs 1,000 REC is issuing tax-free bonds.