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Power Grid Board To Consider Rs 10,000 Crore Fundraising Plan Next Week
The funds will be raised through issuance of NCDs or bonds on private placement basis during 2020-21, says Power Grid.
28 Jun 2019, 12:57 PM IST 
State-owned electric utility Power Grid hasn’t elaborated on reasons for the fundraising. (Photographer: Casper Hedberg/Bloomberg)
Power Grid Corporation of India Ltd.'s board will consider a Rs 10,000 crore fundraising proposal at a meeting on July 3, the state-owned electric utilities company said on Friday.
The funds will be raised through issuance of non-convertible debentures or bonds on private placement basis during 2020-21, Power Grid said in a filing to the Bombay Stock Exchange.
The funds will be raised from domestic market through issue of secured/unsecured, non-convertible, non-cumulative/cumulative, redeemable, taxable/tax-free debentures/bonds under private placement during 2020-21 in up to 20 tranches/offers, the company said.
The company, however, did not elaborate on reasons for the fundraising.