Power Grid Corporation board approves raising up to Rs 900 cr via bonds
State-owned Power Grid Corporation of India on Monday said that its board has approved raising up to Rs 900 crore through issuance of non-convertible bonds on private placement basis.
"Committee of Directors for Bonds, in their meeting held today i.e. on 9th March, 2023, have approved the raising of unsecured, non-convertible, non-cumulative, redeemable, taxable POWERGRID Bonds-LXXI (71 st) issue 2022-23 on private placement up to Rs 900 crore by securitization of cash flows of 10 years i.e, till FY 2032-33 of its operational SPV viz., 'POWERGRID Mithilanchal Transmission Ltd (PMTL)'," a BSE filing said.
The base issue size will be Rs 300 crore with green shoe option of Rs 600 crore.
The issue will be listed on NSE and/or BSE Ltd.
In a separate filing, the company said, "Power Grid Corporation of India Ltd has been declared as successful bidder under tariff based competitive bidding to establish inter-state transmission system for Transmission System Strengthening Scheme for ...
