Power Grid to raise up to ₹3,800 crore via bond issue

Power Grid Corp of India said on Monday its board committee has approved raising up to ₹3,800 crore through a private placement of unsecured taxable bonds.

The state-run power transmission utility said the POWERGRID Bonds – LXXXIII (83rd Issue) 2025-26 will have a base size of ₹1,000 crore and a green-shoe option of ₹2,800 crore, according to a filing to stock exchanges.

The bonds will be listed on the BSE and NSE and will be redeemable at par in 10 equal annual instalments, with interest payable yearly, the company said.

The coupon rate will be determined through bidding on the Electronic Book Provider platform. The bonds will be unsecured and carry no special rights or privileges, Power Grid added.

The company said there were no delays or defaults related to payments on existing debt instruments and no comments from debenture trustees regarding non-payment.

Power Grid, one of India’s largest state-owned transmission utilities, regularly taps the domestic bond market to fund its capital expenditure and long-term projects.

Power Grid Corp of India Ltd is the country’s largest state-owned power transmission utility, operating an extensive network that carries nearly half of India’s electricity generated across regions.

The

company builds, owns and maintains interstate transmission systems, including high-voltage lines and substations, and plays a central role in strengthening grid reliability and enabling renewable energy integration.

Through its subsidiaries, Power Grid also undertakes telecom, consultancy and smart grid projects, expanding its footprint beyond core transmission.

Shares of Power Grid were trading 0.9% higher at a price of ₹273.70 on Monday. The stock has gained 11% in value in the year so far.