Power Finance Corp to raise Rs 65,000 crore via debt

New Delhi: Power Finance Corporation on Thursday said it will seek shareholders' nod to raise up to Rs 65,000 crore through issuance of securities on private placement basis.

State-owned Power Finance Corp (PFC), which is a one of the leading lenders to the power sector, has sought shareholders nod at the 31st annual general meeting to be held on September 20.

A special resolution is listed for seeking approval to "raise funds up to Rs 65,000 crore through issue of bonds/debentures/notes/debt securities on private placement basis in India and/or outside India," the company said in a filing to BSE.

PFC, an infrastructure finance company, is engaged in providing financial assistance to state power utilities for meeting the financing and development requirements of the power sector.