PGCIL gets shareholders' nod to raise up to Rs 10,000 cr via bonds in FY22

Power Grid Corporation of India Ltd (PGCIL) has got shareholders' approval to raise up to Rs 10,000 crore via bonds on a private placement basis in 2021-22.

All resolutions as set out in the notice of 31st Annual General Meeting held on September 22 have been duly approved by the shareholders with requisite majority, a BSE filing said on Thursday.

The company had proposed a special resolution in the AGM to raise up to Rs 10,000 crore from domestic market in financial year 2021-22.

The funds were proposed to be raised through issuance of secured or unsecured, non-convertible, non-cumulative or cumulative, redeemable, taxable or tax-free debentures or bonds under private placement in up to 20 tranches/offers.