PFC plans to raise Rs 1.18 trillion, eyes domestic retail bond market

Fund will help the firm make up for the loss in borrowing during lockdown

State-owned Power Finance Corporation (PFC), the largest lender to the power sector, will raise Rs 1.18 trillion this financial year, as the dust settles on the lenders’ market, hit by the Covid pandemic. 

PFC will tap the domestic retail bond market to raise close to Rs 83,000 crore, making it the largest amount to be raised through bonds by the company.

The fundraising plan is to make up for the loss in borrowing during the past few months of lockdown, slowdown in the lender market and funds crunch as it had given special loans to state-owned power distribution companies (discoms).

Among other avenues