POWERGRID board approves higher borrowing limit, USD 500 million ECB

POWERGRID Corporation of India Limited’s Board of Directors has approved an increase in the company’s borrowing limit from Rs 1,80,000 crore to Rs 2,20,000 crore, subject to shareholders’ approval at the upcoming Annual General Meeting (AGM).

The Board also approved raising up to USD 500 million (approximately Rs 4,100 crore) through External Commercial Borrowings (ECB) from Bank of Baroda to meet the company’s funding requirements.

According to POWERGRID, the enhanced borrowing limit will provide additional financial flexibility to support its capital expenditure programme.

Separately, the Committee of Directors for Bonds approved the General Information Document (GID) for the issuance of POWERGRID debentures during FY27 through private placement. The company said the bonds will be issued in one or more tranches based on funding requirements.