Power Grid board approves raising up to Rs 5,000 cr via bonds

New Delhi: Power Grid Corporation's board on Tuesday approved a proposal to raise up to Rs 5,000 crore through issuance of bonds on private placement basis.

The base issue size of the bonds is Rs 1,000 crore with additional 'Green Shoe Option' of Rs 4,000 crore.

"Committee of Directors for bonds in their meeting held today i.e. on 22nd October, 2024 approved the raising of bonds as unsecured, non-convertible, non-cumulative, redeemable, taxable, POWERGRID Bonds...up to Rs 5,000 crore on private placement basis," it stated.

Bonds are redeemable at par at the end of 10th year and interest payment on yearly basis.

The bonds will be listed on BSE/NSE, it stated.