New Delhi, March 27: REC Ltd on Wednesday announced that its board of directors have approved a borrowing plan of ₹1.70 lakh crore for the financial year 2025-2026.
The Board of Directors of REC Ltd, in its meeting held on March 26, have accorded their approval for the Market Borrowing Programme of the company for the financial year 2025-26 up to ₹1,70,000 crore.
The FY26 borrowing programme of REC Ltd includes raising ₹1,55,000 crore through Domestic Bonds or Debentures, Capital Gains Tax Exemption Bonds, Rupee Term Loans from Banks, Financial Institutions, NBFCs, Corporates and Other Institutions, and External Commercial Borrowings (ECBs).
It also includes ₹10,000 crore to be raised from Short Term Loan (STL) from Banks, Financial Institutions or NBFCs, of more than 6 months, and ₹5,000 crore from Commercial Papers, according to the regulatory filing on March 26.
“Funds under the above borrowing programme shall be raised for different maturities, through different instruments, depending upon the actual requirement of funds, asset-liability position and prevailing market conditions, with the approval of Competent Authority as per the powers delegated in this regard by the Board of Directors,” REC said.
The board of directors of REC Ltd also approved the appointment of Parminder Chopra, CMD – Power Finance Corporation Ltd as Additional Director on the Board of REC in the capacity of CMD (additional charge) w.e.f. March 21, 2025.
REC share price gained over 13% in one month, but the PSU stock has dropped 14% on a year-to-date (YTD) basis. REC shares have fallen 20% in six months and 6% in one year. (Agencies/LiveMint)