State-owned Power Grid Corporation of India Ltd announced that its board will meet on Wednesday, July 10, to discuss raising ₹16,000 crore for the financial year 2025-26. The funds will be raised through various sources, including domestic bonds, which may be secured or unsecured, non-convertible, non-cumulative, redeemable, and either taxable or tax-free, issued under private placement.
In a stock exchange filing, the company stated, “A meeting of the Board of Directors of the Company will be held on Wednesday, 10th July 2024 to consider and approve amongst other items of Agenda, an agenda to borrow funds of up to ₹16,000 crore during the financial year (FY) 2025-26 through various sources including Domestic Bonds (Secured/ unsecured, non-convertible, non-cumulative, redeemable, taxable/tax-free under private placement).”
Additionally, the board will discuss increasing the current borrowing limits from ₹12,000 crore to ₹15,000 crore for the financial year 2024-25. This will involve issuing secured or unsecured, non-convertible, non-cumulative, redeemable, taxable or tax-free bonds under private placement from domestic or other sources.
Power Grid Corporation of India Ltd (POWERGRID) is a government-owned electric utility company headquartered in Gurugram, India. It operates and maintains over 90% of India’s interstate and inter-regional electric power transmission system. Established in 1989, POWERGRID is responsible for the planning, coordination, supervision, and control over the complete inter-state transmission system. It owns and operates a network of transmission lines, substations, and a load dispatch center to ensure the efficient distribution of electricity across the country.
