Power Grid to raise Rs 30,000 crore this fiscal year

State-owned, Power Grid Corporation of India (PGC) plans to raise Rs 30,000 crore in the current fiscal year 2018-19 through long-term borrowing programme. The state-owned electric utility company said that out of this Rs 30,000 crore, Rs 20,000 crore would be raised by selling bonds, with the rest, Rs 10,000 crore, through long-term loans. 

This compares with the company’s total borrowing target of Rs 26,000 crore in previous two financial years (FY17-FY18) comprising of Rs 14,000 crore to be raised as bonds and remaining, Rs 12,000 crore, as long-term loans. 

However, the company raised Rs 13,481 crore versus approved Rs 14,000 crore in the financial year 2016-17 and Rs 9,130 crore against Rs 14,000 crore approved for 2017-18. T

The power transmission operator’s long-term borrowing programme worth Rs 30,000 crore has been rated “AAA” by CRISIL.

By TickerNews Service

Source: DNA Money