Nelco Board Hikes Borrowing Limit to ₹400 Cr; Approves NCDs up to ₹210 Cr

Nelco's Board of Directors approved increasing the company's borrowing limits from ₹250 crores to ₹400 crores. This enhancement allows for greater financial flexibility. The approved borrowings may include the issuance of non-convertible debentures (NCDs) aggregating up to ₹210 crores, along with term loans or other suitable instruments. The issuance of NCDs will be via private placement. The specific terms and conditions for fund-raising, including tenure, coupon, and listing details, will be finalized and disclosed at the time of security allotment, subject to requisite approvals. This move indicates the company's intent to potentially raise significant capital for future growth or operational needs.