Power Grid Board approves fund raising proposals worth Rs 11,000 cr
Jul 07, 2022
New Delhi [India], July 7 : The Board of government-owned power transmission company Power Grid Corporation of India (PGCIL) has approved two proposals to raise funds worth Rs 11,000 crore, it said in a regulatory filing to the exchanges late on Wednesday evening.
The Board approved proposals worth Rs 6,000 crore funds from the domestic market through various options such as the issue of secured, unsecured, non-convertible, noncumulative, cumulative, redeemable, taxable, tax-free debentures, bonds under private placement during the financial year 2023-24 in up to twenty tranches, the filing said.
It also approved the sanction of rupee term loan of upto Rs 5,000 crore from commercial banks to meet capital expenditure and other business requirements.
The decisions were taken at a meeting held on Wednesday, the filing added.
At 10.08 a.m., the shares of the company traded at Rs 214, up 1.8 per cent.
