Energy Grid Company of India (Powergrid) on March 4 stated its board has accredited a proposal to boost as much as ₹1,200 crore by issuing bonds.

“The Committee of Administrators for Bonds accredited the elevating of bonds as unsecured, non-convertible, non-cumulative, redeemable, taxable Powergrid bonds — LXXVI (76th) difficulty as much as ₹1,200 crore,” the corporate stated in an trade submitting.

On the scale of the problem, the corporate stated the bottom measurement is ₹400 crore, together with the inexperienced shoe choice of ₹800 crore.

The bonds are redeemable at par on the finish of the tenth 12 months, and curiosity fee on a yearly foundation, the corporate stated.

Powergrid, beneath the Ministry of Energy, is India’s largest electrical energy transmission utility with 1,76,762 ckm of transmission strains.