Powergrid to Elevate Financial Strategy with Rs 6,000 Crore Bond Issue

Power Grid Corporation of India Ltd has received approval from its Directors' Committee to raise Rs 6,000 crore through bonds in the current fiscal year. The plan includes a Rs 1,500 crore bond and a green shoe option of Rs 4,500 crore, redeemable after a decade with annual interest.

Power Grid Corporation of India Ltd, commonly known as Powergrid, announced on Friday that the Committee of Directors for Bonds has sanctioned a plan to issue bonds cumulatively worth Rs 6,000 crore within the ongoing financial year.

The bond issuance will begin with a base size of Rs 1,500 crore, complemented by a green shoe option for an additional Rs 4,500 crore, as detailed in an official exchange submission.

The bonds are structured as unsecured, non-convertible, non-cumulative, and redeemable at par after a period of ten years. Interest payments are scheduled on an annual basis, aligning them with the fiscal planning of Powergrid's investment strategies.

(With inputs from agencies.)