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Power Grid board approves raising Rs 5,700 cr via bonds in FY24
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New Delhi, Power Grid Corporation's board has approved a proposal to raise up to Rs 5,700 crore through issuance of bonds on private placement basis in multiple tranches in 2023-24. The fund raised will be used to part finance its capex requirement, for providing inter corporate loans to wholly-owned subsidiaries/JVs and for general corporate purposes.
This will be done by securitization of cashflows of 4 operational SPVs (special purpose vehicles) viz. POWERGRID Bhuj Transmission, POWERGRID Khetri Transmission System, POWERGRID Medinipur Jeerat Transmission System and POWERGRID Varanasi Transmission System up to March, 2034.
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