Powergrid to raise up to Rs 42.50 billion via 10-year bonds

Power Grid Corporation of India Limited (PGCIL) has approved raising up to Rs 42.50 billion through the private placement of bonds.

The funds will be raised under the Powergrid bonds – LXXX (80th Issue), which are unsecured, non-convertible, non-cumulative, redeemable, and taxable. 

The issue includes a base size of Rs 10 billion and a green shoe option of Rs 32.50 billion.

These bonds will have a 10-year tenure with annual interest payments. The interest rate will be determined through bidding on the electronic book provider platform.