Power Grid Corporation of India Ltd (Powergrid) has received shareholders’ approval to raise up to Rs 100 billion via bonds on a private placement basis in 2021-22.
The company had proposed a special resolution in the annual general meeting (AGM) to raise up to Rs 100 billion from domestic market in 2021-22. The funds were proposed to be raised through issuance of secured or unsecured, non-convertible, non-cumulative or cumulative, redeemable, taxable or tax-free debentures or bonds under private placement in up to 20 tranches/offers.