India, Sept. 24 -- State-owned NLC India Ltd on Wednesday said it raised Rs 500 crore by issuing commercial papers. Commercial papers are short-term, unsecured debt obligations issued by institutions and corporations as an alternative to more expensive funding methods.

The issuance comes as NLC India plans to invest Rs 1.25 lakh crore by 2030 to expand its capacity. In a filing to BSE, the company said that 10,000 commercial papers of a "face value of Rs 500,000 each, aggregating to Rs 500 crore have been issued and allotted," on September 22.

NLC India Limited (NLCIL), a Navratna public-sector enterprise under the coal ministry, has an installed power-generation capacity of 8,405 MW and mining capacity of 59.1 million tonnes per annum ...