Power Grid Corp board approves plan to raise borrowing limit to Rs 15,000 crore for FY25

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.