Power Grid gets shareholders' nod to raise Rs 10,000 crore through bonds

Power Grid Corporation of India has received shareholders' approval to raise up to Rs 10,000 crore through issuance of bonds on private placement basis. A special resolution was approved to raise the fund from domestic market through issuance of secured/unsecured, non-convertible, noncumulative/cumulative, redeemable, taxable/tax-free debentures/bonds during 2020-21. The funds will be raised in up to 20 tranches.

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.