Power Grid Approves Rs 2,250 Crore Bond Issue

28 Sep 2023 CW Team

The Power Grid Corporation, a Maharatna power company, has received approval from its board to raise Rs 22.5 billion through the issuance of bonds. The company announced on Monday that its board has given the green light to a proposal aimed at raising up to Rs 22.5 billion via bond issuance to support its capital expenditure.

According to a regulatory filing, the Committee of Directors for Bonds convened a meeting on September 25, 2023, during which they sanctioned the raising of up to Rs 22.5 bn in the second tranche for the fiscal year 2023-24.

This capital infusion will serve to partially finance the company's capital expenditure requirements, extend inter-corporate loans to its wholly-owned subsidiaries and joint ventures, and address general corporate needs by securing cash flows from four operational Special Purpose Vehicles (SPVs) until March 2034, as stated in the regulatory filing.

The four operational SPVs are POWERGRID Bhuj Transmission Ltd (PBTL), POWERGRID Khetri Transmission System Ltd (PKTSL), POWERGRID Medinipur Jeerat Transmission System Ltd (PMJTL), and POWERGRID Varanasi Transmission System Ltd (PVTSL).

The POWERGRID Bonds - LXXIV (74th) Issue for the fiscal year 2023-24 will have a base issue size of Rs 5 billion, with an additional green shoe option of Rs 17.5 billion, making a total of Rs 22.5 billion. These bonds will be redeemable at par in ten equal installments, with annual interest payments.

Infrastructure Transport

10 Nov 2025

Beyond the Overlay

Every year, as the monsoon retreats, India’s highways hum with activity. Asphalt plants roar back to life, contractors rush to meet deadlines, and the clock starts ticking on another paving season. Yet the same questions persist: why do many Indian roads demand overlays within seven years when global peers last twice as long? And what will it take to make roads endure India’s climate, traffic, and pace of growth?“In developed countries, highways are designed for 25 to 30 years; in India, it’s 15 to 20,” observes Muthu Annamalai, Vice-President – Projects, Vertis Infrastructure Trus..

Sonu Sood Inspires Fitness at Signature Global’s DXP WellFest

Signature Global, one of India’s leading real estate developers, hosted another edition of its DXP Wellness Fest at DXP Estate, Sector 37D, Dwarka Expressway, bringing together residents, fitness enthusiasts, and wellness brands for a day dedicated to health, mindfulness, and community living.The highlight of the event was an engaging session with actor and philanthropist Sonu Sood, who inspired participants to embrace fitness, resilience, and collective well-being. The festival also featured energetic performances by Tagra Raho, the fitness brand by M.S. Dhoni, and interactive experiences b..

BICES 2025 Draws 1,300 Global Exhibitors to Showcase Next-Gen Machinery

The 17th China (Beijing) International Construction Machinery, Building Material Machines and Mining Machines Exhibition (BICES 2025) concluded successfully at the China International Exhibition Center, Shunyi.Held from September 23–26 under the theme “High-end, Green, Smart and Future,” the world-class event brought together nearly 1,300 leading domestic and international enterprises across a sprawling 150,000 sq. m exhibition area. The show attracted over 148,000 professional visitors and users from 73 countries and regions, reinforcing its position as one of the most influential gathe..