POWERGRID board approves Rs 5,000 crore fund raise, CTUIL divestment plan

The Board of Directors of Power Grid Corporation of India Limited (POWERGRID) has approved several decisions during its meeting held on March 9, 2026, including a fund raising plan, investment in cybersecurity infrastructure, and an in-principle approval to divest its wholly owned subsidiary, Central Transmission Utility of India Limited (CTUIL).

In a regulatory filing to the stock exchanges, POWERGRID stated that the board has authorised the raising of funds through unsecured rupee term loans or lines of credit from Union Bank of India. The amount approved for borrowing is up to Rs 5,000 crore.

The board also approved an investment for establishing a Centralized Security Operations Center for Substations – Operational Technology Security Operations Center (OT SOC). The project has an estimated cost of Rs 233.96 crore and is scheduled to be implemented within 24 months from the date of approval by the Central Electricity Regulatory Commission (CERC).

Further, the board granted in-principle approval for the divestment of POWERGRID’s entire equity stake in CTUIL to Grid Controller of India Limited (GRID-INDIA). CTUIL currently operates as a wholly owned subsidiary of POWERGRID.

In addition, the board approved the formation of a strategic alliance with Africa50 and Uganda Development Bank (UDB). The arrangement includes signing a framework agreement for developing a transmission project in Uganda under the Independent Power Transmission (IPT) model.