Power Grid to raise up to Rs 3,800 crore via bonds

New Delhi, Power Grid on Monday said its committee of directors has approved a proposal to raise up to Rs 3,800 crore through issuance of bonds on private placement basis.

The base issue size will be Rs 1,000 crore with a green shoe option of Rs 2,800 crore, the company said in an exchange filing.

Bonds are redeemable at par in 10 equal annual installments and interest payment on yearly basis. PTI