Power Grid board okays Rs2,250-cr bonds

New Delhi: The state-run Power Grid Corporation on Monday said its board has approved a proposal to raise up to Rs2,250 crore through issuance of bonds to fund its capital expenditure.

In a regulatory filing, the company said the Committee of Directors for Bonds, in their meeting held on September 25, 2023, approved raising of up to Rs2,250 crore in 2023-24 in second tranche.

This fund raising will part-finance the company’s capex requirement, for providing inter corporate loans to wholly-owned subsidiaries/JVs and for general corporate purposes by securitization of cash flows of four operational SPV (special purpose vehicles) up to March, 2034, the regulatory filing said.