Power Grid Corporation of India Ltd Proposes Issue of Non-Convertible Bonds Under Private Placement

Power Grid Corporation of India Ltd (PGCIL), a leading electric power transmission utility, is considering the issuance of non-convertible bonds through private placement. This move aligns with the company's ongoing efforts to raise capital for infrastructure development and expansion projects. PGCIL has previously approved bond issuances, including a recent plan to raise up to ₹12,000 crore via bonds in the 2024-25 fiscal year. The bonds are typically unsecured, non-convertible, non-cumulative, redeemable, and taxable, with a tenure of 10 years, and are listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

 

The issuance of these bonds supports PGCIL's strategic financial planning, enabling it to tap into capital markets and secure funds for its growth initiatives. The company's focus on expanding its power transmission infrastructure underscores its commitment to enhancing India's energy sector.

 

Source: Business Standard, Indian Express