Why has Neyveli Lignite raised funds through commercial paper for short term?
Answer
Answer
NLC India, formerly Neyveli Lignite Corporation, has raised Rs.1200 crore by issuing commercial papers (CP). It was a private placement of CP to a set of top quality marquee banks like SBI and ICICI Bank. NLC operates in the Southern part of India and is into coal and lignite mining. It is also into power generation.