Infrastructure term lender IFCI Ltd on Thursday said its shareholders have okayed a proposal to raise up to Rs 1,000 crore through bonds and other instruments.

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The resolution was passed at the company's annual general meeting (AGM) held on Thursday.

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The shareholders authorised the board of directors to raise funds, including via bonds and non-convertible debentures, through private placement in one or more tranches, up to the amount of Rs 1,000 crore, IFCI said in a regulatory filing.

The authorisation is valid for one year from the date of passing of the resolution, it added.

First Published:Dec 22, 2022 9:22 PM IST