New Delhi: State-owned utility Power Grid on Wednesday said it will seek approval of its shareholders next month to raise up to Rs 14,000 crore from domestic and external sources in fiscal year 2016-17.
The funds will be raised from domestic as well as external sources through issuance of tax-free bonds under private placement in FY17.
Power Grid Corporation of India Ltd in a filing to the BSE on Wednesday said the company will hold an annual general meeting "on September 15, 2015 to raise funds... up to Rs 14,000 crore".
The shareholders' nod would also be sought for enhancing borrowing limits from Rs 1.3 lakh crore to Rs 1.5 lakh crore, the company said.
Earlier, the company's board had approved total investment of Rs 1,481 crore in its various projects to be commissioned in the next two-three years.
These investment proposals include the one for installing transmission equipment at an estimated cost of Rs 1,071.24 crore for the western region and setting up of transformers in northern region at an estimated cost of Rs 63.56 crore.
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