Power Grid Corporation Secures Approval for Rs 15,000 Crore Borrowing Limit

State-owned Power Grid Corporation has received shareholder approval to raise its borrowing limit to Rs 15,000 crore for the 2024-25 fiscal year. This decision was made at the annual general meeting. Additionally, shareholders approved plans to raise up to Rs 16,000 crore for 2025-26.

State-owned Power Grid Corporation has announced that it has received shareholder approval to increase its borrowing limit to Rs 15,000 crore for the fiscal year 2024-25.

The decision came during the company's annual general meeting held on Thursday, and was confirmed in a BSE filing.

Shareholders also gave the green light for raising up to Rs 16,000 crore through secured and unsecured debentures/bonds, and approved the appointment of Ravindra Kumar Tyagi as the chairman and managing director.

(With inputs from agencies.)