PGCIL board to consider proposals to raise Rs 11,000 cr on Wednesday

State-owned Power Grid Corporation of India Ltd (PGCIL) board will consider and approve two proposals to raise up to Rs 11,000 crore through the issuance of bonds and term loans on July 6, 2022. A meeting of the Board of Directors will be held on Wednesday, July 6, 2022, a BSE filing said.

As per the filing, the board will consider and approve a proposal to raise funds up to Rs 6,000 crore from the domestic market through the issue of secured/unsecured, non-convertible, non-cumulative/cumulative, redeemable, taxable/tax-free debentures/bonds under private placement during the Financial Year 2023-24 in up to twenty tranches/offers.

The board will also consider and approve another proposal for sanction of a Rupee Term Loan of up to Rs 5,000 crore from Commercial Bank to meet capital expenditure requirements..