Shares of SJVN ended 7 percent higher on Wednesday and will be in focus on Thursday as well after the company informed the exchanges that it will hold a board meet on Saturday, September 23.
The company will hold a board meet to consider and approve raising funds through the securitisation of assets.
Asset Securitisation is a process by which a company combines different financial assets or debts to form a consolidated financial instrument, which is then issued to the investors.
In April last year, the company had raised a $65 million loan to fund hydropower projects in India.
The company’s board in January 2021 had approved raising Rs 2,000 crore through the issue of NCDs on a private placement basis.
The MoU pertains to various diversified portfolio of projects including majorly renewable energy projects and thermal generation projects.
Overall cost of the projects that are to be set up is nearly Rs 1.19 lakh crore. As per the MoU, the term loan financial assistance is proposed tentatively at 70 percent of the project cost.
Shares of SJVN ended 7.1 percent higher at Rs 82.10. The stock is up 135 percent so far in 2023.
First Published: Sept 20, 2023 4:17 PM IST
