Powergrid to Raise Rs 1,200 Cr via Bonds
By Rediff Money Desk, NEWDELHI Mar 04, 2024 16:05
Power Grid Corporation of India (Powergrid) has approved a proposal to raise up to Rs 1,200 crore by issuing bonds. The bonds are redeemable at par at the end of the 10th year, and interest payment on a yearly basis.
New Delhi, Mar 4 (PTI) Power Grid Corporation of India (Powergrid) on Monday said its board has approved a proposal to raise up to Rs 1,200 crore by issuing bonds.
"The Committee of Directors for Bonds approved the raising of bonds as unsecured, non-convertible, non-cumulative, redeemable, taxable Powergrid bonds - LXXVI (76th) issue up to Rs 1,200 crore," the company said in an exchange filing.
On the size of the issue, the company said the base size is Rs 400 crore, along with the green shoe option of Rs 800 crore.
The bonds are redeemable at par at the end of the 10th year, and interest payment on a yearly basis, the company said.
Powergrid, under the Ministry of Power, is India's largest electric power transmission utility with 1,76,762 ckm of transmission lines.
"The Committee of Directors for Bonds approved the raising of bonds as unsecured, non-convertible, non-cumulative, redeemable, taxable Powergrid bonds - LXXVI (76th) issue up to Rs 1,200 crore," the company said in an exchange filing.
On the size of the issue, the company said the base size is Rs 400 crore, along with the green shoe option of Rs 800 crore.
The bonds are redeemable at par at the end of the 10th year, and interest payment on a yearly basis, the company said.
Powergrid, under the Ministry of Power, is India's largest electric power transmission utility with 1,76,762 ckm of transmission lines.
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
- Srestha Finvest
- 0.69 ( 0.00)
- 62598283
- Vodafone Idea L
- 8.18 (+ 0.49)
- 37195429
- Standard Capital
- 1.09 ( 0.00)
- 19101981
- GTL Infrastructure
- 2.27 (+ 2.71)
- 16886415
- Spicejet Ltd.
- 62.59 (+ 2.19)
- 16665024
MORE NEWS
Bharti Telecom Buys Airtel Shares for Rs 11,700...
Bharti Telecom has acquired a 1.2% stake in Bharti Airtel from Indian Continent...
Satcom To Complement, Not Compete With...
India's Minister of State for Communications, Chandra Sekhar Pemmasani, states that...
Trai Sidesteps Level Playing Field in Satcom...
Former Supreme Court Judge L Nageshwara Rao, in a legal opinion for Reliance Jio,...