"The board of directors in its meeting held on March 30, 2016 has given in-principle approval to company to raise funds up to Rs 5,000 crore or equivalent in any currencies," the company said in a BSE filing.
According to the statement, the said funds can be raised by way of offer, issue and allotment of secured or unsecured, senior or sub-ordinate non-convertible debentures or any other permissible debt securities whether denominated in Indian rupee and/or foreign currency which will be listed on any offshore stock exchanges.
The company also informed BSE that it has been assigned a credit rating of 'BBB-' by Standard & Poor's, 'BBB-(emr)(EXP)' by Fitch Ratings and '(P)Baa3' by Moody's Investor Services.
These ratings assigned by the three agencies are broadly investment grade, indicating that investors can invest in these bonds.