The board of Power Grid Corporation of India Limited (POWERGRID) has approved a proposal to increase the company’s borrowing limit from Rs 1,800 billion to Rs 2,200 billion, subject to shareholders’ approval at the forthcoming annual general meeting. It has also approved raising up to USD 500 million through external commercial borrowings from Bank of Baroda. Further, the board has approved an investment of Rs 7.73 billion for the upgradation of the Udumalpet–Madurai 400 kV single-circuit transmission line to a 400 kV (quad) double-circuit line. The project is scheduled for completion within 30 months from the date of allocation, that is, by August 11, 2028.
Separately, the Committee of Directors for Bonds has approved the general information document for the issuance of POWERGRID debentures during 2026-27 on a private placement basis. The debentures may be issued in one or more tranches.