New Delhi, May 8 (PTI) State-owned NLC India Ltd on Monday said its board has approved raising up to Rs 5,000 crore through issuance of debentures in the ongoing financial year.

The company's board has also approved a proposal for incorporation of a wholly-owned subsidiary company to take over the existing renewable assets.

Also Read | Residential Real Estate Sales Rise Over 10% in January-March 2023, Says Report.

"The board of directors approved the following issuance of bonds in the nature of debentures up to Rs 5,000 crore in tranches during the FY 2023-24," the company said in a regulatory filing.

Under the Ministry of Coal, NLC India operates three opencast lignite mines having a total of capacity 30 million tonnes per annum (MTPA) at Neyveli in Tamil Nadu, one opencast lignite mine at Barsingsar in Rajasthan with an installed capacity of 2.10 MTPA and an open cast coal mine at Talabira in Odisha with an installed capacity of 20 MTPA.

Also Read | India Witnesses 18% Hike in Weekly Cyberattacks in January-March 2023.

The company is also into production of thermal as well as renewable energy-based power.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)