State-run Rural Electrification Corp on Friday said that its shareholders have approved the proposal to raise up to Rs42,000 crore through issuance of bonds or debentures on private placement basis.
The shareholders okayed the proposal with requisite majority at its annual general meeting held on September 16, REC stated in BSE filing.
The proposal was to enable the firm to raise funds through private placement of unsecured/secured non-convertible bonds/debentures up to Rs42,000 crore.