| Work Detail |
The Committee of Directors for Bonds at Power Grid Corporation of India Limited convened a meeting on December 18, 2024, to deliberate on raising funds through the issuance of unsecured, non-convertible, non-cumulative, redeemable, taxable bonds. The committee approved the issuance of the 80th tranche of POWERGRID Bonds for the financial year 2024-25, amounting to ?4,250 crores. This includes a base issue size of ?1,000 crores, with an additional green shoe option of ?3,250 crores, to be raised through private placement.
These bonds will have a tenure of 10 years, with redemption at par value and annual interest payments. The interest rate for these bonds will be determined through the bidding process on the Electronic Book Provider platform. The bonds will be unsecured and listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
The committee confirmed there are no special rights or privileges attached to these bonds. Furthermore, no delays or defaults in the payment of interest or principal are anticipated, and no comments or concerns have been raised regarding the payment terms.
The meeting commenced at noon and concluded within 20 minutes, reflecting the efficient execution of the agenda. This issuance aims to strengthen the company’s financial position and support its operational and expansion activities, reaffirming its commitment to sustainable growth and financial discipline. |
