Power Grid Corporation Of India Ltd.

In a bid to meet working capital expenditure, Power Grid Corporation (PGCIL) is likely to raise Rs 3,000 crore under its second round of fund raising plan through domestic bonds. The company has already raised Rs 3,000 crore through a bond issue in May.

This fund raising is a part of the Rs 22,456-crore capital expenditure planned by the company for FY16. The company has already received an approval for raising Rs 10,000 crore through debt.

The Navratna PSU reported a 20.2 per cent rise in June quarter standalone net profit at Rs 1,366.51 crore against Rs 1,136.51 crore in the corresponding period last fiscal, helped by higher income from operations.

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.