Power Grid Corporation Of India Ltd.

Power Grid Corporation has received its shareholders’ approval to raise up to Rs 13,000 crore from domestic and external sources in the current fiscal through eight tranches. The nod was received through a postal ballot.

The funds will be used for financing the capital expenditure and provide loans to its wholly-owned special purpose vehicles (SPV) handling its projects acquired under tariff based competitive bidding.

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