Power Grid Corporation Of India Ltd.

Power Grid Corporation of India (PGCI) has received its shareholders’ nod to raise up to Rs 14,000 crore through issuance of bonds from domestic and external sources in 2016-17. The amount would be raised through issue of secured/unsecured, non - convertible, non-cumulative, redeemable, taxable/tax-free, rupee linked bonds under private placement . The company will raise the funds in up to eight tranches/offers, with or without green shoe option and each tranche shall be of up to Rs 2,000 crore of bonds, exclusive of green shoe option.

The funds will be used for capital expenditure of the company and providing loans to its wholly owned projects - special purpose vehicles (SPV) acquired by the company. Further, the company has planned to raise up to Rs 12,000 crore through domestic bonds and has planned a capital expenditure of Rs 22,500 crore on its expansion during the current fiscal.

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.