PGCIL board approves proposals to raise Rs 110 billion

Power Grid Corporation of India Limited’s (PGCIL) board has approved two proposals to raise up to Rs 110 billion through the issuance of bonds and term loans.

The board has approved a proposal to raise funds up to Rs 60 billion from the domestic market through the issuance of secured/unsecured, non-convertible, non-cumulative/cumulative, redeemable, taxable/tax-free debentures/bonds under private placement during 2023-24 in up to twenty tranches/offers. Further, the board approved another proposal for sanction of a rupee term loan of up to Rs 50 billion from commercial banks to meet capital expenditure and other business requirements.