Barely three months after raising Rs 3,951 crore through government-serviced bonds, Uttar Pradesh Power Corporation (UPPCL) — the umbrella body of the state’s five electricity discoms is all set to issue another tranche of bonds worth Rs 4,000 crore to meet its working capital requirements – mainly to clear dues of the generation companies (gencos). The issue is likely to hit the market in early July.
According to sources, UPPCL had initially planned to raise Rs 8,000 crore in one go from the markets in March itself but the state government allowed it to raise only Rs 4,000 crore in the first tranche.
