Power Grid to raise up to Rs 3,800 crore via 83rd bond issue on private placement

New Delhi: Power Grid Corporation of India Limited (PGCIL), the Maharatna power transmission utility, has approved the launch of its 83rd series of taxable bonds to raise up to Rs 3,800 crore through private placement, according to a regulatory filing submitted to stock exchanges.

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The ‘Committee of Directors for Bonds’, in its meeting held on November 17, cleared the proposal to issue Unsecured, Non-convertible, Non-cumulative, Redeemable, Taxable Power Grid Bonds – LXXXIII (83rd) Issue 2025-26. The issue consists of a base size of Rs 1,000 crore and a green shoe option of Rs 2,800 crore, taking the total borrowing potential to Rs 3,800 crore.

The bonds are proposed to be listed on both BSE and NSE. As per the disclosure, the instruments will be redeemable at par in 10 equal annual instalments, with interest payable on a yearly basis. The coupon rate will be finalised through bidding on the Electronic Book Provider (EBP) platform.

Power Grid noted that the issue will be completely unsecured and will not carry any special rights or privileges. The company also confirmed that it has no delays or defaults related to interest or principal payments on any of its outstanding securities.

The meeting of the Committee of Directors for Bonds commenced at 2:15 PM and concluded at 2:35 PM, the filing added.

The bond issuance is part of Power Grid’s ongoing strategy to secure long-term funds to support its capex plans and strengthen India’s national power transmission network.

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