Powergrid board gives nod to raise ₹4,250 crore via bonds

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| Photo Credit: S. Thanthoni

State-owned Power Grid Corporation of India on Wednesday (December 18, 2024) said its board has approved a proposal to raise up to ₹4,250 crore funds through issuance of bonds on a private placement basis.

The proposal was taken up at a meeting of the company’s committee of directors for bonds, Powergrid said in an exchange filing.

“Committee of Directors for Bonds has approved the raising of bonds as unsecured, non-convertible, non-cumulative, redeemable, taxable, Powergrid Bonds — LXXX (80th) Issue up to ₹4,250 crore on private placement basis,” it said.

The base size of the issue is ₹1,000 crore with a green shoe option of ₹3,250 crore, the company said.

It said the bonds are redeemable at par at the end of 10th year with interest payment on a yearly basis.