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.