Power Grid Corporation of India Ltd has announced plans to raise ₹5,000 crore through bonds on a private placement basis. The Board of Directors approved the issuance of unsecured, non-convertible, non-cumulative, redeemable, and taxable bonds during a meeting held on October 22, 2024. This move aims to secure fresh funding for upcoming projects.
The bond issuance, named the Powergrid Bonds – LXXIX (79th), includes a base issue size of ₹1,000 crore with a green shoe option of ₹4,000 crore, bringing the total to ₹5,000 crore. This initiative reflects the company’s commitment to expanding its financial capacity through secure means.
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These bonds will be redeemable at face value at the end of the 10th year, with annual interest payments. Being non-convertible and taxable, the bonds offer a clear structure for investors while ensuring flexibility for Power Grid’s long-term financial plans.
Power Grid has secured several transmission projects over the last few months, including projects in Rajasthan’s renewable energy zones of Jaisalmer and Barmer. The company has also expanded in other regions such as Khavda, reinforcing its position as a major player in India’s power sector.
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The Power Grid Share Price is 322.75 INR, reflecting the company’s solid market presence, driven by its strategic expansion and robust financial moves. These bond issues and project acquisitions are set to enhance Power Grid’s growth trajectory in the coming years.
