Power Grid board OKs raising up to $500 mln, ups borrow limit to INR 2.2 tln
This story was originally published at 18:30 IST on 27 June 2026
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--Power Grid OKs raising borrowing limits to INR 2.2 tln from INR 1.8 tln
--Power Grid to raise up to $500 mln via FX borrowings from Bank of Baroda
--Power Grid to invest INR 7.73 bln for upgradation of transmission line
NEW DELHI – The board of Power Grid Corp. of India Ltd. has approved a proposal to enhance the company's borrowing limit to INR 2.20 trillion from INR 1.80 trillion, the company said in an exchange filing Friday. The board also approved raising up to $500 million through external commercial borrowings from Bank of Baroda.
In a separate filing, the state-owned company said the board had approved the issuance of debentures for the financial year 2026-27 (Apr-Mar) in one or more tranches or through one or more issuances on private placement basis.
The board also approved upgrading or conversion of the Udumalpet–Madurai 400 kiloVolt single circuit line in Tamil Nadu to a 400 kiloVolt double-circuit line. The project is estimated to cost INR 7.73 billion and is scheduled to be completed within 30 months from the date of allocation. The targeted date of completion of the project is Aug. 11, 2028.
In a filing Saturday, the company said the transmission scheme for the 2,500 megawatt solar energy zone in Ananthapur and 1,000 megawatts in Kurnool, Andhra Pradesh, was commissioned Wednesday. The project was originally assigned to Power Grid Ananthpuram Kurnool Transmission Ltd., which was then a wholly owned subsidiary of Power Grid Corp. The subsidiary was amalgamated with Power Grid Khawda II-C Transmission Ltd. effective Mar. 1, as per an order of the Ministry of Corporate Affairs, the company said.
For the March quarter, Power Grid Corp. had reported a net profit of INR 45.53 billion on revenue of INR 99.71 billion. Thursday, its shares closed at INR 283.90 on the National Stock Exchange, down over 2% from Wednesday. The stock market was shut Friday for Muharram. End
US$1 = INR 94.39
Reported by Vaishali Tyagi
Edited by Rajeev Pai
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