The Board of Directors of the Company at its meeting held today has approved the raising of funds upto an amount of INR 1800,00,00,000/- (Indian Rupees One Thousand Eight Hundred Crores only) for, inter alia, refinancing of the existing debt of the Company, by way of issuance of unlisted, unrated, secured, redeemable, fully paid up non-convertible debentures in one or more series/ tranches, on private placement basis.