Power Grid board to meet on July 10 to consider raising Rs 16,000 crore through bonds

State-owned Power Grid Corporation of India Ltd on Friday (July 5) said its board will meet on Wednesday (July 10) to consider approval of borrowing of Rs 16,000 crore for the financial year 2025-26.

These funds will be raised from various sources, including domestic bonds, which may be secured or unsecured, non-convertible, non-cumulative, redeemable and taxable or not, issued through a private placement.

“A meeting of the Board of Directors of the Company will be held on Wednesday, July 10, 2024 to consider and approve, among other items on the agenda, an agenda to borrow funds in an amount not exceeding ₹“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-exempt through private placement),” the company said in a stock exchange filing.

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Further, the board will also discuss increasing the current borrowing limits from ₹12,000 crore to ₹15,000 crore for the financial year 2024-25.

This increase will involve the issuance of secured or unsecured, non-convertible, non-cumulative, redeemable, taxable or tax-exempt bonds in a private placement from domestic or other sources.

Shares of Power Grid Corporation of India Ltd closed at ₹339.40, up ₹4.05, or 1.21 per cent, on the Bombay Stock Exchange.

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