Power Grid Corporation of India Ltd. on Friday, April 4, said its committee of directors for bonds has given its nod to raise funds worth up to ₹6,000 crore through the issuance of bonds via private placement basis.

The committee gave its approval for the issuance of unsecured, non-convertible, non-cumulative, redeemable, taxable bonds for the financial year 2026.

The base issue size is set at ₹1,500 crore, with an option to retain oversubscription up to ₹4,500 crore under the green shoe option, bringing the total potential issue size to ₹6,000 crore.

According to a regulatory filing, the bonds are proposed to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The tenure of the bonds is 10 years, with redemption at par upon maturity. Interest payments will be made annually.

The coupon rate and the detailed schedule of interest and principal payments will be determined following a bidding process on the electronic book provider (EBP) platform. The bonds are unsecured, meaning they are not backed by any specific assets of the company. There are no special rights or privileges attached to the instrument.

Power Grid shares were down 0.59% at ₹297.35 apiece at 12.10 pm. The stock has gained 17% in the past month.

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