Powergrid To Raise Rs 4,250 Cr Via Bonds

New Delhi: State-owned Power Grid Corporation of India on Wednesday said its board has ap-proved a proposal to raise up to Rs 4,250 crore funds through issuance of bonds on a private placement basis.

The proposal was taken up at a meeting of the company’s committee of directors for bonds, Powergrid said in an exchange filing. “Committee of Directors for Bonds has ap-proved the raising of bonds as unsecured, non-convertible, non-cumulative, redeemable, taxable, Powergrid Bonds - LXXX (80th) Issue up to Rs 4,250 crore on private placement basis,’ it said.