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REC board approves fundraise of up to ₹1.55 lakh crore via bondsREC Ltd has received board approval to raise up to ₹1.55 lakh crore through private placement of bonds over the next year, subject to shareholder nod at the upcoming AGM.By Sheersh Kapoor   June 4, 2025, 4:47:34 PM IST (Published)1 Min ReadREC Ltd, the Maharatna public sector undertaking and systemically important non-banking finance company (NBFC), on Wednesday said its board has approved a proposal to raise up to ₹1.55 lakh crore through the private placement of bonds or debentures.

The fundraise, which may be executed in multiple tranches, will be subject to shareholder approval at the forthcoming Annual General Meeting.

The board also cleared the striking-off of Rajgarh III Power Transmission Ltd, a wholly owned subsidiary of REC Power Development and Consultancy Ltd (RECPDCL).

The subsidiary was originally formed to manage a transmission project for renewable energy evacuation in Madhya Pradesh but is now being de-notified following government guidance.

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This development comes after REC reported a 5.5% year-on-year rise in consolidated net profit for the fourth quarter of FY25 at ₹4,236 crore. Net interest income jumped 37.6% to ₹5,877 crore during the quarter.

Ahead of the announcement, shares of REC Ltd closed at ₹400.95 on the BSE, up 0.12%.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsBondsfund raiseRural Electrification Corporation (REC)share market today