Power Grid board OKs raising funds upto Rs 12,000 cr

Power Grid Corporation of India informed that its board has approved the raising of bonds as POWERGRID bonds issue(s) upto Rs 12,000 crore during FY 2024-25.

The unsecured, non-convertible, non-cumulative, redeemable, taxable POWERGRID bonds will be issued in one or more tranches / series.

Power Grid Corporation of India (PGCIL), a Public Sector Undertaking is India's principal electric power transmission company. The company is engaged in implementation, operation and maintenance of inter-state transmission system (ists), telecom and consultancy services.

The companys consolidated net profit jumped 2.6% to Rs 4,028.25 crore on 2.6% increase in net sales to Rs 11,549.79 crore in Q3 FY24 over Q3 FY23.

Shares of Power Grid Corporation of India ended 0.07% higher at Rs 274.35 on Tuesday, 16 April 2024. The domestic market is shut on account of Shri Ram Navami.

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