The board of directors of Power Grid Corporation has approved a plan to raise up to Rs 5,000 crore through issuance of bonds through private placement. The base issue size has been fixed at Rs 1,000 crore, with an additional 'Green Shoe Option' of Rs 4,000 crore.
At a meeting held on October 22, 2024, the Bonds Committee declared that the bonds will be unsecured, non-convertible, non-cumulative, exchangeable and taxable POWERGRID bonds.
These bonds are redeemable at par at the end of the 10th year, with interest payments made annually.