State-owned Power Grid Corporation of India (PGCIL) will seek shareholders’ approval on August 29, to raise up to Rs 6,000 crore through the issuance of bonds during the financial year 2023-24.
The proposal to raise funds up to Rs 6,000 crore, from the domestic market through issuance of bonds, under private placement basis, during the financial year 2023-24, in up to twenty tranches/offers, is listed on the agenda of the annual general meeting (AGM) on August 29, 2022.
On July 6, the PGCIL board had approved the proposal to raise Rs 6,000 crore in 2023-24, for financing of capital expenditure requirement, providing inter-corporate loans to wholly-owned subsidiaries and other purposes.
