Power Grid Corporation of India (Powergrid) on March 4 mentioned its board has permitted a proposal to raise up to ₹1,200 crore by issuing bonds.
“The Committee of Directors for Bonds approved the raising of bonds as unsecured, non-convertible, non-cumulative, redeemable, taxable Powergrid bonds — LXXVI (76th) issue up to ₹1,200 crore,” the corporate mentioned in an trade submitting.
On the dimensions of the difficulty, the corporate mentioned the bottom dimension is ₹400 crore, together with the inexperienced shoe possibility of ₹800 crore.
The bonds are redeemable at par on the finish of the tenth yr, and curiosity fee on a yearly foundation, the corporate mentioned.
Powergrid, underneath the Ministry of Power, is India’s largest electrical energy transmission utility with 1,76,762 ckm of transmission traces.
