NLC India Limited — Board Meeting, 19-11-2024: Outcome of Board Meeting

The Board of Directors has approved an in-principle investment of up to ₹3,720 Cr in NLC India Renewables Limited (NIRL), its wholly-owned subsidiary, to fund various renewable projects. This includes acquiring renewable assets at their book value, totaling ₹6,263 Cr as of September 30, 2024, under an asset monetization plan. Additionally, the Board will issue Letters of Comfort for borrowings by subsidiaries as needed, supporting their financial requirements. This strategic decision aligns with the company's ongoing focus on expanding its renewable energy portfolio.