PGCIL plans to raise Rs 200 billion in 2019-20

Power Grid Corporation of India Limited (Powergrid) has asked for the approval of its shareholders to raise Rs 200 billion through bonds or debentures on a private placement basis in 2019-20. The announcement was made through the company’s Bombay Stock Exchange filing. Prior to this, Powergrid’s board of directors had approved raising Rs 200 billion in up to 20 tranches, depending upon the requirement of funds in 2019-20 to fund the company’s capital expenditure requirements, providing inter corporate loans to wholly owned subsidiaries and for general corporate purposes.

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