Power Grid Corporation of India stated that its board its board is scheduled to meet on 10 July 2024 to consider and approve the proposal of fund raising.
The company will consider borrowing of funds of upto Rs16,000 crore during the financial year (FY) 2025-26 through various sources including domestic bonds (secured/ unsecured, nonconvertible, non-cumulative, redeemable, taxable/tax-free under private placement).Further, the board will mull to enhance the current borrowing limits from existing Rs 12,000 crore to Rs 15,000 crore during the financial year 2024-25 through issue of secured / unsecured, nonconvertible, non-cumulative, redeemable, taxable / tax-free bonds under private placement from domestic / other sources.
Power Grid Corporation of India has been established by the Government of India (GoI) as the central transmission utility of India. The firm is a Maharatna company under Ministry of Power, GoI. As of 31 March 2024, the Government of India owned a 51.34% stake in the company.
The companys consolidated net profit declined 3.62% to Rs 4,166.33 crore on 2.5% fall in revenue from operations to Rs 11,978.11 crore in Q4 FY24 over Q4 FY23.
The scrip rose 1.21% to end at Rs 339.40 on Friday, 5 July 2024.
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