Power Grid Corporation Increases Borrowing Limit to Rs 15,000 Crore

The Power Grid Corporation board approved increasing the borrowing limit to Rs 15,000 crore for FY 2024-25 from the previous Rs 12,000 crore. For FY 2025-26, the borrowing limit is set at Rs 16,000 crore. This approval is pending shareholder consent in the upcoming annual general meeting.

State-owned Power Grid Corporation's board has approved a significant increase in the borrowing limit for the financial year 2024-25. The limit has been raised to Rs 15,000 crore from the previous Rs 12,000 crore.

According to a BSE filing, the board has also set the borrowing limit for FY 2025-26 at Rs 16,000 crore. The funds will be raised through various sources including domestic bonds, both secured and unsecured, non-convertible, non-cumulative, and redeemable, taxable or tax-free, under private placement.

This decision by the Board of Directors, taken in their meeting on 10th July 2024, awaits final approval from shareholders during the forthcoming annual general meeting.

(With inputs from agencies.)