Strength Grid to borrow funds upto ₹16,000 crore all over FY25 by task of bonds

Strength Grid to borrow funds upto ₹16,000 crore all over FY25 by task of bonds

Shares of Strength Grid Corporation of India Ltd ended at ₹346.10, up by ₹5.20, or 1.fifty three% on the BSE.

Strength Grid to borrow funds upto ₹16,000 crore all over FY25 by task of bonds

Negate-owned Strength Grid Corporation of India Ltd (POWERGRID) on Wednesday (July 10) launched plans to borrow as a lot as 16,000 crore all over the financial yr 2025-26.

“…borrow funds of upto 16,000 Crore all over the financial yr (FY) 2025-26 by various sources including Home Bonds (Secured/unsecured, non-convertible, non-cumulative, redeemable, taxable/tax-free
under inner most placement),” , based on a stock alternate submitting.

This choice used to be made by the Board of Directors of their assembly held on July 10, 2024. The funds will be raised by various sources, including home bonds.

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These bonds is at possibility of be secured or unsecured, non-convertible, non-cumulative, redeemable, and would possibly perhaps well presumably also be issued as both taxable or tax-free under inner most placement, it acknowledged.

As neatly as to this, the Board has also accepted an enhancement of basically the most modern borrowing limits for FY 2024-25. The restrict will be increased from 12,000 crore to 15,000 crore by the issuance of similar kinds of bonds under inner most placement from home or varied sources.

“…pork up basically the most modern borrowing limits from present 12,000 crore to 15,000 crore all over the financial yr 2024-25 by negate of secured /unsecured, non-convertible, non-cumulative, redeemable, taxable / tax-free Bonds under Non-public placement from Home / varied sources,” it added.

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These approvals are topic to the ratification of shareholders within the upcoming Annual Regular Assembly.

Shares of Strength Grid Corporation of India Ltd ended at ₹346.10, up by ₹5.20, or 1.fifty three% on the BSE.

First Printed: 

Jul 10, 2024 11:41 PM

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