Maharatna company Power Grid Corporation of India declares up to ₹6000 crore fundraise via bonds
Power Grid Corporation of India Limited (POWERGRID) has announced the issuance of unsecured, non-convertible, non-cumulative, redeemable, and taxable bonds under the POWERGRID Bonds-LXXXI (81st) Issue for 2025-26. The bond issuance has been approved by the Committee of Directors for Bonds in a meeting held on April 4, 2025. The total issue size is set at ₹6,000 crore, comprising a base issue size of ₹1,500 crore and a green shoe option of ₹4,500 crore.
These bonds are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), ensuring liquidity and transparency for investors. The bonds will have a tenure of ten years and will be redeemable at par at the end of this period. Interest payments will be made on a yearly basis.
The coupon or interest rate for these bonds will be determined through bidding on the Electronic Book Provider (EBP) platform. Notably, the bonds are unsecured, meaning no specific assets will be pledged as collateral. Additionally, there are no special rights, interest benefits, or privileges attached to the instrument, and there have been no delays in the payment of interest or principal beyond three months from the due date.
The company has also clarified that there are no letters or comments regarding the non-payment of interest or principal on due dates, ensuring a clean track record. Furthermore, details regarding the redemption of preference shares are not applicable in this case.
The Committee of Directors for Bonds convened at 11:15 a.m. and concluded the meeting at 11:40 a.m. The issuance of these bonds is expected to support POWERGRID’s financial plans and long-term investment strategy.
