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26 May, 2018 15:40 IST
Power Grid Corp receives approval to raise up to Rs 50 bn
Source: IRIS | 15 May, 2017, 10.43AM
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Power Grid Corporation of India has received its board's approval to launch USD 1 billion medium term note (MTN) programme to mobilise funds from international markets, and issue of rupee denominated Masala bond to raise up to Rs 50 billion.

The board of directors of the company in its meeting held on May 11, 2017 also approved an investment of Rs 1.86 billion for a transmission system to evacuate power from NLC power plant of 1,000 MW at Neyveli in Tamil Nadu.

The board also approved an investment of Rs 1.75 billion for setting up transmission network for Ultra Mega Solar Park (700 MW) at Banaskantha in Gujarat.

Shares of the company gained Rs 1.9, or 0.92%, to trade at  Rs 208.05.  The total volume of shares traded  was  46,908 at the BSE (10.33 a.m., Monday).



Power Grid Corporation Of India Limited   (Q,N,C,F)*

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