Power Grid Corporation of India’s board has approved increasing its borrowing limit to ₹2.2 lakh crore from ₹1.8 lakh crore, subject to shareholder nod at the upcoming AGM.
It also cleared raising up to $500 million in foreign currency loans via ECB from Bank of Baroda and sanctioned a ₹772.65 crore transmission line upgrade project targeted for completion by August 11, 2028.
Power Grid of India Board Okays Raising Borrowing Limit to ₹2.2 lakh Cr
The board, in its meeting held on Friday, also approved the proposal of raising foreign currency funds through External Commercial Borrowings (ECB) up to USD five hundred million ($500 million) from Bank of Baroda
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State-owned Power Grid Corporation on Friday said its board has approved the proposal to raise its borrowing limit to ₹2.2 lakh crore from ₹1.8 lakh crore.
The board, in its meeting held on Friday, also approved the proposal of raising foreign currency funds through External Commercial Borrowings (ECB) up to USD five hundred million ($500 million) from Bank of Baroda, a regulatory filing stated.
According to the regulatory filing, the board approved a proposal for the enhancement of borrowing limits from ₹1,80,000 crore to ₹2,20,000 crore, subject to the approval of the shareholders at the ensuing annual general meeting (AGM).
The board also gave investment approval for 'Upgradation / Conversion of Udumalpet – Madurai 400kV S/c line to Udumalpet – Madurai 400kV (quad) D/c line' at an estimated cost of ₹772.65 crore, scheduled to be implemented within 30 months from the date of allocation by August 11, 2028.
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