Power Grid approves issuance of bonds to raise up to Rs 50 billion
Author: PPD Team Date: October 24, 2024
Power Grid Corporation of India Limited (PGCIL) has received approval from its committee of directors to issue its 79th bond series (2024-25), which will raise up to Rs 50 billion through a private placement.
The bond issuance has a base size of INR 10 billion, with a green shoe option allowing for an additional Rs 40 billion.
These bonds are unsecured, non-convertible, non-cumulative, and taxable, with a 10-year maturity period. The bonds will be redeemable at par, with interest payments made annually.