State-run utility Power Grid today said its shareholders have approved a proposal to raise up to Rs 14,000 crore through issuance of bonds from domestic and external sources in 2016-17. <\/p>\n
Shareholders approved the proposal to raise the amount through issue of secured\/unsecured, non-convertible, non- cumulative, redeemable, taxable\/tax-free, rupee linked bonds under private placement in 2016-17 in its annual general meeting held on September 15, Power Grid Corporation of India Ltd said in a BSE filing today. <\/p>\n
According to the proposal, the company will raise the funds in up to eight tranches\/offers, with or without green shoe option and each tranche shall be of up to Rs 2,000 crore of bonds, exclusive of green shoe option. <\/p>\n
The funds will be used for capital expenditure of Power Grid and providing loans to wholly-owned projects and special purpose vehicles acquired by the company. <\/p>\n
As per the company statement, shareholders also approved the proposal to enhance borrowing limits from Rs 1.3 lakh crore to Rs 1.5 lakh crore. <\/p>\n
The company had earmarked a capital expenditure of up to Rs 1 lakh crore for five years, ending 2016-17. <\/p>\n
The company has planned to raise up to Rs 12,000 crore through domestic bonds during the current fiscal year. It has has planned a capital expenditure of Rs 22,500 crore on its expansion during the current fiscal.<\/p>\n","protected":false},"excerpt":{"rendered":"
State-run utility Power Grid today said its shareholders have approved a proposal to raise up to Rs 14,000 crore through issuance of bonds from domestic and external sources in 2016-17. Shareholders approved the proposal to raise the amount through issue of secured\/unsecured, non-convertible, non- cumulative, redeemable, taxable\/tax-free, rupee linked bonds under private placement in 2016-17 in its annual general meeting held on September 15, Power Grid Corporation of India Ltd said in a BSE filing today. According to the proposal, the company will raise the funds in up to eight tranches\/offers, with or without green shoe option and each tranche […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-33523","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/33523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=33523"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/33523\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=33523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=33523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=33523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}