Power Grid Corp board approves plan to raise Rs 12k cr via bonds

New Delhi: State-owned Power Grid Corporation of India board on Wednesday approved a proposal to raise up to Rs 12,000 through the issuance of bonds in one or more tranches in 2024-25.

"Committee of Directors for Bonds in their meeting held on today i.e. on 17th April 2024 has approved the raising of Bonds as Unsecured, Non-convertible, Non-cumulative, Redeemable, Taxable Powergrid Bonds Issue(s) during FY 2024-25 in one or more tranches/series up to Rs 12,000 crore," a BSE filing said.

Power Grid Corporation is the country's largest electric power transmission utility. It operates 86 per cent of Inter-Regional networks.

It is engaged in the bulk transmission of power across states in the country.