State-owned NLC India on Wednesday said it has raised Rs 1,200 crore by issuing commercial papers.

"NLC India has issued and allotted 24,000 nos of commercial paper of face value of Rs 5,00,000 each aggregating to Rs 1,200 crore," the PSU said in a filing to BSE.

The commercial papers were issued in favour of investors like State Bank of India and ICICI Bank.

NLC India, the Navratna company under the Ministry of Coal, is into coal and lignite mining and power generation.