Power Grid raises bonds issue of Rs 4,250 crore, shares to get focus
The tenure of the instrument is that Bonds are redeemable at par at the end of the 10th year and interest payment every year.
Power Grid raises bonds issue of Rs 4,250 crore, shares to get focus
State-owned Power Sector Unit PGCIL or Power Grid Corporation has announced that the company’s board members have approved raising the 80th Bonds issue, up to Rs 4,250 crore on a Private Placement basis. According to the exchange filing made, this is to inform that the ‘Committee of Directors for Bonds’ in their meeting held today i.e. on 18th December 2024, has approved 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.
The tenure of the instrument is that Bonds are redeemable at par at the end of the 10th year and interest payment every year.
The Size of the issue POWERGRID Bonds - LXXX (80th) Issue 2024-25 has Base Issue Size: Rs. 1,000 Crore, Green Shoe Option: Rs. 3,250 Crore, Total Issue Size: Rs. 4,250 Crore, respectively.
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The shares of the PSU Company are trading in the red zone, lower by 2.62% at Rs 321.20.
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