The Board of Directors of Power Grid Corporation of India (PGCIL) has approved a proposal to increase the borrowing limit for the financial year 2024-25 to Rs 15,000 crore, up from the previous limit of Rs 12,000 crore. This decision was made during their meeting held on 10th July 2024.
For the financial year 2025-26, the board has set the borrowing limit at Rs 16,000 crore. The funds will be raised through various sources, including domestic bonds that may be secured or unsecured, non-convertible, non-cumulative, redeemable, and either taxable or tax-free under private placement, according to a BSE filing.
The approval for these borrowing limits is contingent upon the consent of shareholders, which will be sought at the forthcoming annual general meeting.
