The Board of Directors of Hindustan petroleum Corporation Limited (HPCL) has approved a proposal for borrowing through further issuance of Secured/Unsecured Redeemable Non-Convertible Debentures/Bonds/Notes etc. upto Rs. 10,000 crore on private placement basis in the domestic market and/or in the overseas market from the date of such approval.

The above borrowing of funds is within the overall borrowing powers of the company for which approval of the shareholders was already obtained in the 70th Annual General Meeting of the company held on August 30, 2022.