Power Grid To Raise Debt Cap To Rs 15,000 Crore This Fiscal
The board also approved plans to raise up to Rs 16,000 crore in the next fiscal through bonds.
Power Grid Corp. will increase the current borrowing limit from the existing Rs 12,000 crore to Rs 15,000 crore during fiscal 2025. The board approved the proposal in a meeting on Wednesday and the company will seek shareholders' nod at the upcoming annual general meeting.
The funds will be raised through issue of secured or unsecured, non-convertible, non-cumulative, redeemable, taxable/tax-free bonds under private placement from domestic or other sources, Power Grid said in an exchange filing.
Further, the board approved plans to raise up to Rs 16,000 crore in the next fiscal through bonds.
Power Grid has been winning major share in new transmission assets and secured Rs 2.7 lakh crore of new assets in fiscal 2024. As a result, the company's capital expenditure is likely to pick up to Rs 25,000 crore by March 2026, according to ICICI Securities Ltd.
Shares of Power Grid closed 1.53% higher at Rs 346.1 per share, as compared to a 0.53% decline in the benchmark BSE Sensex.
