Power Grid Corporation of India has received shareholders’ approval to raise up to Rs 20,000 crore through issuance of non-convertible bonds on private placement basis in the next fiscal. These funds would be used for financing company’s capital expenditure requirement, providing inter corporate loans to wholly-owned subsidiaries and general corporate purposes.
Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India. Power Grid transmits about 50% of the total power generated in India on its transmission network.
