Power grid to raise bonds to issue over Rs 1200 crore on private placement

by Psu Connect
Date: 05-03-24

Powergrid Bonds 76th issue 2023-24 has been approved to raise around Rs 1200 crore which comprises a Base Issue Size of Rs 400 crore and a Green Shoe Option of Rs 800 crore.

Power grid to raise bonds to issue over Rs 1200 crore on private placement

According to the exchange filing issued, as per Regulation 30 of the SEBI[ Listing Obligations and Disclosure Requirements] Regulation 2015, it is confirmed that the Committee of Directors for Bonds has approved the raising of Bonds as Unsecured, Non-Convertible, Non-cumulative, Redeemable, Taxable POWERGRID Bonds 76th Issue upto Rs 1200 crore. The bonds are listed on BSE and NSE exchanges.

The tenure of the instrument is redeemable at the par at the end of the 10th year and interest payment every year. The coupon /interest offered, and schedule of payment are to be decided after bidding at the Electronic Book Provider [EBP] platform. On the size of the issue, the company said the base size is Rs 400 crore, along with the green shoe option of Rs 800 crore.

Power, under the Ministry of Power, is India’s largest electric power transmission utility with 1,76,762 km of transmission lines.