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PowerGrid Seeks Shareholder Nod to Raise Rs 14,000 crore

PowerGrid Corporation has sought shareholders' approval to raise up to Rs 14,000 crore through issuance of bonds from domestic and external sources in 2017-18. It will raise funds in up to eight tranches/offers with or without greenshoe option and each tranche shall be of up to Rs 2,000 crore of bonds, exclusive of the greenshoe part. The proposed borrowing for 2017-18 will be within the overall limits of Rs 1.5 lakh crore.

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