Power Grid Board Approves A Bond Issue Worth Rs 2,200 Crore

The board of directors of the state-owned Power Grid Corporation approved a bond issue of Rs 2,200 crore on Friday.

According to a regulatory filing, the company’s committee approved the raising of up to Rs 5,700 crore in multiple tranches in FY 23-24 to part finance its capex requirement, provide an inter-corporate loan(s) to wholly owned subsidiaries/JVs and for general corporate purposes at its meeting on July 29, 2023.

It further added that the bond committee of directors approved up to Rs 2,200 crore for the third tranche of bonds at their meeting on Friday.

As per the filing, the issue size is Rs 500 crore with a greenshoe option of Rs 1,700 crore.

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