State-owned on Friday said its board has approved the proposal to raise its borrowing limit to ₹2.2 lakh crore from ₹1.8 lakh crore.
The board, in its meeting held on Friday, also approved the proposal of raising foreign currency funds through External Commercial Borrowings (ECB) up to $500 million from , a regulatory filing stated.
According to the regulatory filing, the board approved a proposal for the enhancement of borrowing limits from ₹1,80,000 crore to ₹2,20,000 crore, subject to the approval of the shareholders at the ensuing annual general meeting (AGM).
The board also gave investment approval for ‘Upgradation / Conversion of Udumalpet – Madurai 400kV S/c line to Udumalpet – Madurai 400kV (quad) D/c line’ at an estimated cost of ₹772.65 crore, scheduled to be implemented within 30 months from the date of allocation by August 11, 2028.