Powergrid to Raise Rs 4,250 Cr via Bonds - Business News
By Rediff Money Desk, New Delhi Dec 18, 2024 16:10
Power Grid Corporation of India's board has approved a proposal to raise Rs 4,250 crore through bond issuance on a private placement basis. Learn more about the details.
New Delhi, Dec 18 (PTI) State-owned Power Grid Corporation of India on Wednesday said its board has approved a proposal to raise up to Rs 4,250 crore funds through issuance of bonds on a private placement basis.
The proposal was taken up at a meeting of the company's committee of directors for bonds, Powergrid said in an exchange filing.
"Committee of Directors for Bonds has approved the raising of bonds as unsecured, non-convertible, non-cumulative, redeemable, taxable, Powergrid Bonds - LXXX (80th) Issue up to Rs 4,250 crore on private placement basis,' it said.
The base size of the issue is Rs 1,000 crore with a green shoe option of Rs 3,250 crore, the company said.
It said the bonds are redeemable at par at the end of 10th year with interest payment on a yearly basis.
The proposal was taken up at a meeting of the company's committee of directors for bonds, Powergrid said in an exchange filing.
"Committee of Directors for Bonds has approved the raising of bonds as unsecured, non-convertible, non-cumulative, redeemable, taxable, Powergrid Bonds - LXXX (80th) Issue up to Rs 4,250 crore on private placement basis,' it said.
The base size of the issue is Rs 1,000 crore with a green shoe option of Rs 3,250 crore, the company said.
It said the bonds are redeemable at par at the end of 10th year with interest payment on a yearly basis.
Source: PTI
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
- 0.52 ( -8.77)
- 55285518
- Vodafone Idea L
- 8.07 ( -2.42)
- 34584307
- G G Engineering
- 1.04 ( -1.89)
- 10071638
- Standard Capital
- 0.79 ( 0.00)
- 9971293
- YES Bank Ltd.
- 17.46 ( -1.19)
- 9343371
MORE NEWS

Infosys Postpones Trainee Assessments by a Week
Infosys has deferred internal assessments for trainees by a week amid recent layoffs of...

Noida Airport Partners with Kyndryl for Tech...
Noida International Airport has partnered with Kyndryl to manage its technology...
ASCI Flags 413 Offshore Betting Ads in 2025
The Advertising Standards Council of India (ASCI) flagged 413 offshore betting ads to...