Power Grid to raise Rs 900 cr through bond issuance

Power Grid to raise Rs 900 cr through bond issuance

These bonds are redeemable at par in 40 equal installments with interest payment on quarterly basis.

FPJ Web DeskUpdated: Thursday, March 09, 2023, 11:46 AM IST
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Power Grid to raise Rs 900 cr through bond issuance | Power Grid

Power Grid Corporation of India's Committee of Directors for Bonds on March 9 approved raising unsecured, non-convertible, non-cumulative, redeemable, taxable POWERGRID Bonds-LXXI on private placement worth Rs 900 crore, the company announced through an exchange filing.

The bonds will raise up to Rs 900 crore by securitization of cash flow of 10 years i.e. till financial year 2032-33 of its operational SPV through, 'POWERGRID Mithilanchal Transmission Limited'.

The base issue size is of Rs 300 crore, with a green shoe option of Rs 600 crore bringing the total issue size to Rs 900 crore. These bonds are redeemable at par in 40 equal installments with interest payment on quarterly basis.

Share of Power Grid Corporation

The shares of Power Grid Corporation of India Limited on Thursday at 11:42 am were at Rs 228.95, up by 0.39 per cent.

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