POWERGRID Corporation of India Limited has announced the approval of a fundraising initiative through the issuance of ‘Unsecured, Non-convertible, Non-cumulative, Redeemable, Taxable POWERGRID Bonds – LXXXIV (84th) Issue 2026-27’. The total issue size is capped at ₹5,000 Crore, with a base issue size of ₹1,000 Crore and a green shoe option of ₹4,000 Crore. These bonds are proposed to be listed on both BSE and NSE, with a tenure of 10 years.
POWERGRID Announces Major Bond Issuance
POWERGRID Corporation of India Limited has announced a significant step towards bolstering its financing capabilities by approving the issuance of a new series of bonds. The ‘Unsecured, Non-convertible, Non-cumulative, Redeemable, Taxable POWERGRID Bonds – LXXXIV (84th) Issue 2026-27’ aims to raise a substantial amount of up to ₹5,000 Crore through a private placement.
Key Details of the Bond Issue
The bond issuance comprises a base issue size of ₹1,000 Crore, with an additional ₹4,000 Crore available through a green shoe option, bringing the total potential fundraising to ₹5,000 Crore. These bonds are intended to be listed on both the BSE and NSE, providing liquidity to investors. The tenure of the instrument is set at 10 years from the deemed date of allotment, with annual redemption payments commencing from the end of the 4th year.
Flexible Funding Mechanism
The committee overseeing the bond issuance has decided that the coupon/interest rate and the schedule for payment of interest and principal will be determined after the bidding process on the Electronic Book Provider (EBP) Platform. Importantly, the bonds will be unsecured, meaning no specific assets of the company will be charged as collateral. This strategic move underscores POWERGRID’s commitment to securing necessary funds for its operational and expansion needs.
Source: BSE
