Power Grid approves issuance of bonds to raise up to Rs 50 billion

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.