Power Grid Board approves bond issuance of up to Rs 5,000 cr
The board of Power Grid Corporation has approved a plan to raise up to Rs 5,000 crore through the issuance of bonds via private placement. The base issue size is set at Rs 1,000 crore, with an additional 'Green Shoe Option' of Rs 4,000 crore.
In a meeting held on October 22, 2024, the Committee of Directors for bonds stated that the bonds will be unsecured, non-convertible, non-cumulative, redeemable, and taxable POWERGRID Bonds.
These bonds will be redeemable at par at the end of the 10th year, with interest payments made annually.
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