PFC to seek shareholders nod for raising Rs 65,000 crore

NEW DELHI: State-owned Power Finance Corporation (PFC) today said it will seek shareholders' approval for raising Rs 65,000 crore through issue of debentures on a private placement basis.

The company board today approved the proposal for seeking the nod of shareholders in the ensuing annual general meeting to raise up to Rs 65,000 crore through issuance of debentures, bonds, notes or debt securities by way of private placement in domestic and international markets, PFC said in a BSE filing.

PFC finances power sector projects and its main source of revenue is interest income on loans.