Powergrid gets shareholders approval to raise Rs 100 billion through bonds

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.

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