Power Grid approves Rs 5,000 crore bond issue through private placement

New Delhi: Power Grid Corporation of India Limited (PGCIL) has approved raising up to Rs 5,000 crore through the issuance of unsecured, non-convertible, non-cumulative, redeemable and taxable bonds on a private placement basis.

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The Committee of Directors for Bonds, at its meeting on September 18, approved the "POWERGRID Bonds – LXXXIV (84th) Issue 2026-27," according to a regulatory filing by the company.

The issue comprises a base issue size of Rs 1,000 crore and a green shoe option of Rs 4,000 crore, taking the total issue size to Rs 5,000 crore. The bonds are proposed to be listed on both the BSE and NSE.

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The bonds will have a tenure of 10 years from the deemed date of allotment, with annual redemption payments beginning at the end of the fourth year. The coupon or interest rate will be determined following bidding on the Electronic Book Provider (EBP) platform.

The proposed bonds will be unsecured and do not carry any special rights, interests or privileges.

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