Power Grid Corporation Powers Up: Rs 5,000 Crore Bond Approval

Power Grid Corporation's board approved raising Rs 5,000 crore through private placement of bonds, with a base issue size of Rs 1,000 crore and an additional 'Green Shoe Option' of Rs 4,000 crore. The bonds are unsecured, non-convertible, non-cumulative, and redeemable over a 10-year period.

In a significant financial move, Power Grid Corporation's board has given the green light to issue bonds amounting to Rs 5,000 crore through private placement.

The initiative features a base issue of Rs 1,000 crore, bolstered by a 'Green Shoe Option' allowing an additional increase of Rs 4,000 crore.

The bonds are classified as unsecured, non-convertible, and redeemable, with a maturity of 10 years, and are set to be listed on both BSE and NSE.

(With inputs from agencies.)