Neyveli Lignite to raise Rs 1,750 cr via debt

State-run Neyveli Lignite Corporation today said it will raise Rs 1,750 crore through issue of bonds in order to meet capital expenditure requirement for currently running projects.

The directors of the company at a meeting on December 26, 2008, have approved a plan to raise Rs 500 crore by issuing secured non-convertible taxable bonds and Rs 1,250 crore via loans and external commercial borrowings, Neyveli Lignite informed in a filing to the Bombay Stock Exchange.

The company's shares were trading at Rs 72.60, up 4.01% on the BSE.