CESC plans to raise Rs 763 crore via term loans

Power utility company CESC Ltd is planning to raise Rs 763.21 crore through term loans.
In a regulatory filing, CESC informed that its annual general meeting will be held on July 22 and the company will engage its shareholders with the special resolution in its AGM to secure the term loans and working capital facility.
It will approach Punjab National Bank for a term-loan of Rs 100 crore followed by IDBI Bank for Rs 200 crore, HDFC Bank for Rs 150 crore, Union Bank of India for incremental working capital facility of Rs 51 crore and ICICI Bank for two term loans aggregating Rs 262.21 crore.

CESC had earlier reported a marginal rise of 1.6 per cent in standalone net profit at Rs 248 crore for the quarter ended March 31.
The company had reported a net profit after tax and minority interest of Rs 244 crore in the year-ago period, CESC had said in a filing to BSE.