Power Grid likely to raise Rs 1900 crore via 10-year bond issue

22 Aug 2023 , 07:45 PM

Power Grid Corporation is expected to raise up to Rs 1,900 crore through the issue of 10-year bonds with an annual redemption structure for investors next week.

According to sources, the bond issuance will have a base size of Rs 500 crore and a greenshoe option of Rs 1,400 crore. ‘They will most likely look at the 23rd of August for the bidding,’ a source stated.

Power Grid Corporation of India Limited is an Indian central public sector undertaking owned by the Government of India’s Ministry of Power. Its primary business is the transmission of bulk power across India’s many states. Its headquarters are in Gurugram.

Power Grid Corporation closed at around Rs 248.20 on NSE on Tuesday.

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