Power Grid to Raise Rs 2,200 Crore via Bonds
By Rediff Money Desk, NEWDELHI Dec 29, 2023 12:29
Power Grid Corporation of India approved raising Rs 2,200 crore through bonds, part of a larger Rs 5,700 crore fundraising plan for FY 23-24.
New Delhi, Dec 29 (PTI) State-owned Power Grid Corporation board on Friday approved raising of Rs 2,200 crore through bonds.
The company's committee of directors for bonds, in their meeting on July 29, 2023, approved the raising of up to Rs 5,700 crore in FY 23-24 in multiple tranches to part finance its capex requirement, for providing inter corporate loan(s) to wholly owned subsidiaries/JVs and for general corporate purposes, according to a regulatory filing.
Further, it stated that the committee of director for bonds in their meeting on Friday approved the raising of up to Rs 2,200 crore towards the third tranche of bonds.
The base issue size is Rs 500 crore with a greenshoe option of Rs 1,700 crore, the the filing added.
The company's committee of directors for bonds, in their meeting on July 29, 2023, approved the raising of up to Rs 5,700 crore in FY 23-24 in multiple tranches to part finance its capex requirement, for providing inter corporate loan(s) to wholly owned subsidiaries/JVs and for general corporate purposes, according to a regulatory filing.
Further, it stated that the committee of director for bonds in their meeting on Friday approved the raising of up to Rs 2,200 crore towards the third tranche of bonds.
The base issue size is Rs 500 crore with a greenshoe option of Rs 1,700 crore, the the filing added.
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- IFL Enterprises
- 1.36 (+ 4.62)
- 96270207
- Franklin Industries
- 3.90 (+ 4.56)
- 27501642
- Vodafone Idea L
- 16.18 ( -3.63)
- 21311560
- Indian Renewable
- 259.90 ( -4.54)
- 14228151
- AvanceTechnologies
- 0.90 ( -1.10)
- 11518579
MORE NEWS
Wipro Transfers Stake in Financial Outsourcing...
Wipro Holdings (UK) has transferred its entire stake in Wipro Financial Outsourcing...
Indian Markets Turn Negative After Record Highs
Indian stock markets experienced volatility on Thursday, turning negative after...
ASK Property Fund Invests Rs 190 Cr in...
ASK Property Fund has invested Rs 190 crore in a real estate project being developed by...