Power Grid Board approves funding borrowing for FY25

Power sector PSU Power Grid has stated that Board members of the company has approved to borrow funds through various sources in the current financial year.

Power Grid Board approves funding borrowing for FY25

Power sector PSU Power Grid has stated that the company's board members have approved borrowing funds through various sources in the current financial year.

The company's Board of Directors will be held on Wednesday, 10th July 2024 to consider and approve other items of the Agenda, according to the exchange filing.

To borrow funds of upto Rs.16,000 Crore during the financial year (FY) 2025-26 through various sources including Domestic Bonds (Secured/ unsecured, nonconvertible, non-cumulative, redeemable, taxable/tax-free under private placement), and

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 to enhance the current borrowing limits from existing Rs. 12,000 Crore to Rs. 15,000 Crore during the financial year 2024-25 through the issue of secured/unsecured, nonconvertible, non-cumulative, redeemable, taxable/tax-free Bonds under Private placement from Domestic / other sources.

 The above approval of Agenda by the Board of Directors are subject to approval of shareholders in the ensuing Annual General Meeting, it added.

 

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