NLC India raises ₹500 crore through issuance of commercial papers
State-owned NLC India Ltd on Wednesday said that it has raised Rs 500 crore through the issuance of commercial papers.
Commercial papers are short-term, unsecured debt obligations issued by institutions and corporations as an alternative to costlier methods of funding.
The issuance comes as NLC India plans to invest Rs 1.25 lakh crore by 2030 to expand its capacity.
In a filing to BSE, the company said that 10,000 commercial papers of a "face value of Rs 500,000 each, aggregating to Rs 500 crore have been issued and allotted" on September 22.
NLC India Limited (NLCIL), a Navratna public-sector enterprise under the coal ministry, has an installed power-generation capacity of 8,405 MW and mining capacity of 59.1 million tonnes per annum (MTPA).
To support India's growing electricity needs sustainably, the company is expanding its mining operations through responsible practices while modernising its power-generation portfolio.
NLCIL plans to raise its total mining capacity to 104.35
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