PowerGrid issues non-convertible bonds worth Rs 600 cr

PowerGrid issues non-convertible bonds worth Rs 600 cr

The issue is by securitization of cashflows of 10 years i.e. till FY 2032-33 of its operational SPV viz. “POWERGRID NM Transmission Limited (PNMTL)”

FPJ Web DeskUpdated: Friday, March 24, 2023, 12:11 PM IST
article-image
PowerGrid issues non-convertible bonds worth Rs 600 cr | Image: Wikipedia (Representative)

Power Grid Corporation of India informed that the Committee of Directors for Bonds, in their meeting held today i.e. on 24th March, 2023, have approved the raising of Unsecured, Non-convertible, Non-cumulative, Redeemable, Taxable POWERGRID Bonds-LXXII (72nd) Issue 2022-23 on Private placement upto Rs. 600 cr, via an exchange filing.

The issue is by securitization of cashflows of 10 years i.e. till FY 2032-33 of its operational SPV viz. “POWERGRID NM Transmission Limited (PNMTL)”.

The disclosure is in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

RECENT STORIES

Pakistan Faces Twin Risks Of Unrest And Mass Migration As Unemployment Deepens
Pakistan Faces Twin Risks Of Unrest And Mass Migration As Unemployment Deepens
Karur Vysya Bank Expands Footprint With Inauguration Of 900th Branch In Chennai
Karur Vysya Bank Expands Footprint With Inauguration Of 900th Branch In Chennai
Zero-Duty Access For 800–1,600 cc US Motorcycles Under India-US Trade Pact To Boost...
Zero-Duty Access For 800–1,600 cc US Motorcycles Under India-US Trade Pact To Boost...
AEPC Welcomes India-US Trade Framework As Textiles And Apparel Sector Set For Major Export Boost
AEPC Welcomes India-US Trade Framework As Textiles And Apparel Sector Set For Major Export Boost
RCB United? Manchester United Owners Make ₹16,300 Crore Bid For Reigning IPL, WPL Champions As...
RCB United? Manchester United Owners Make ₹16,300 Crore Bid For Reigning IPL, WPL Champions As...