Latest News | Power Grid Corp Board Approves Plan to Raise Borrowing Limit to Rs 15k Cr for FY25
Get latest articles and stories on Latest News at LatestLY. State-owned Power Grid Corporation board on Wednesday approved a proposal to increase the borrowing limit to Rs 15,000 crore from Rs 12,000 crore for 2024-25 through various instruments.
New Delhi, Jul 10 (PTI) State-owned Power Grid Corporation board on Wednesday approved a proposal to increase the borrowing limit to Rs 15,000 crore from Rs 12,000 crore for 2024-25 through various instruments.
The board has also fixed the borrowing limit at Rs 16,000 crore for 2025-26.
The Board of Directors of Power Grid, in their meeting held on 10th July 2024, have accorded the following approvals for borrowing funds of up to Rs 16,000 crore during the financial year (FY) 2025-26 through various sources, including domestic bonds (Secured/ unsecured, non-convertible, non-cumulative, redeemable, taxable/tax-free under private placement), a BSE filing said.
The board also enhanced the current borrowing limits from the existing Rs 12,000 crore to Rs 15,000 crore during the financial year 2024-25 through the issue of secured/unsecured, non-convertible, non-cumulative, redeemable, taxable/tax-free bonds under private placement from domestic/other sources.
The above approval of the agenda by the Board of Directors is subject to the approval of shareholders in the ensuing annual general meeting, it stated.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)