Power Grid Corporation Of India Ltd.

Power Grid Corporation of India (PGCIL) is seeking shareholders’ approval to raise up to Rs 13,000 crore from domestic and external sources in the current fiscal through eight tranches. The company is raising the funds for financing capital expenditure and provides loans to its wholly-owned special purpose vehicles (SPV) handling its projects acquired under tariff-based competitive bidding.

Shareholders’ nod was also sought for providing Rs 1,400 crore of funds to PowerGrid’s wholly-owned special purpose vehicles - Vindhyachal Jabalpur Transmission, Gadarwara (A) Transco and Gadarwara (B) Transmission.

The company is seeking shareholders approval after its board had approved total investment of Rs 1,481 crore in its various projects to be commissioned in the next two-three years.

Power Grid Corporation of India is India’s principal electric power transmission company. It owns and operates most of India’s interstate and inter-regional electric power transmission systems with inter-regional power transfer capacity of about 20,800 MW and wheels nearly 45% of total power generated across India.