Power Grid Corporation of India informed that the committee of directors approved issuance of bonds aggregating to Rs 4,250 crore, with a base issue of Rs 1,000 crore and green shoe option of Rs 3,250 crore.
The company will issue unsecured, non-convertible, non-cumulative, redeemable, taxable, powergrid bonds - LXXX (80th) on a private placement basis.These bonds are redeemable at par at the end of the 10th year and interest payments on a yearly basis. However, the coupon rate is to be decided after bidding at the electronic book provider platform.
The bonds are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
The company reported a 0.3% rise in consolidated net profit to Rs 3,793.02 crore on a 0.1% increase in revenue from operations to Rs 11,277.76 crore in Q2 FY25 over Q2 FY24.
The scrip slipped 2.47% to currently trade at Rs 321.85 on the BSE.
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