Power Grid receives shareholder’s nod to raise up to Rs.20,000 crore, via issuance of non-convertible bonds on private placement basis in the next fiscal year.

Further, it informed BSE that on September 19, in the AGM a special resolution was passed, to raise funds up to Rs.20,000 cr from domestic market through issuance of secured/unsecured,non convertible,noncumulative/cumulative,redeemable,taxable/tax free debentures/bonds under private placement in 2018-19 fiscal.

The funds raised will be used for company’s capital expenditure requirement,providing inter corporate loans to wholly owned subsidiaries and general corporate purposes.

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