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Informist, Friday, Mar. 20, 2026

 

By Astha Oriel and Shakshi Jain

 

NEW DELHI – Power Grid Corp. of India Ltd. expects to merge 28 wholly-owned subsidiaries into two entities in four to five months, a top company official told Informist Friday on the sidelines of an event in Delhi. The official, however, did not say whether the two entities would be listed on the exchanges. The official also said that the company may get the INR 50-billion loan from Union Bank of India in four to five months.

 

The company's board Thursday approved the merger of 28 subsidiaries into two other wholly-owned subsidiaries. "It's a regular procedure by the government. Last time, the merger of the subsidiaries took time. This time, we are hoping to get it done sooner," the official said.

 

Earlier this month, the board approved raising INR 50 billion from Union Bank of India through an unsecured term loan or line of credit. "It's a term loan. We already have a tie-up with Union Bank of India. The fund raise is expected to be completed in the next four to five months," the official said.

 

For the quarter ended December, the company had reported a net profit of INR 41.60 billion. Its revenue for the quarter was INR 110.05 billion. On Friday, shares of Power Grid closed 0.3% higher at INR 297.60 on the National Stock Exchange.  End

 

Edited by Ashish Shirke

 

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