Power Grid Corporation of India (POWERGRID / BSE532898) has cleared plans to raise up to INR38bn ($428mn) through its latest bond issuance, marking the company’s 83rd series of such instruments and forming part of its funding strategy for the 2025–26 financial year. The issue, to be placed privately, will consist of unsecured, non-convertible and non-cumulative taxable bonds, underlining the state-owned utility’s continued reliance on domestic debt markets to support its capital expenditure programme, POWERLINE reports.

The structure of the offering includes a base tranche of INR10bn, supplemented by a green-shoe option allowing for an additional INR28bn should investor appetite justify an expanded allocation. Repayments will be made in ten equal annual instalments, with interest disbursed once a year — a schedule designed to match the long-duration nature of the company’s transmission projects.

The coupon will be set through the electronic book-building platform at the time of bidding, enabling the rate to reflect prevailing market conditions. POWERGRID’s leadership has framed the move as a prudent step to secure predictable, long-term funding as the company accelerates investment in high-voltage corridors, grid modernisation and renewable-energy integration across India’s power system.

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