New Delhi: Power Grid Corporation of India Limited (PGCIL), the Maharatna power transmission utility, has approved the launch of its 83rd series of taxable bonds to raise up to Rs 3,800 crore through private placement, according to a regulatory filing submitted to stock exchanges. The decision was cleared by the ‘Committee of Directors for Bonds’ in its meeting held on November 17, 2025.
Details of the 83rd Series Bond Issue
The approved bond issue, named Unsecured, Non-convertible, Non-cumulative, Redeemable, Taxable Power Grid Bonds – LXXXIII (83rd) Issue 2025-26, will have a base size of Rs 1,000 crore with a green shoe option of Rs 2,800 crore, taking the total borrowing potential to Rs 3,800 crore. The bonds are proposed to be listed on both BSE and NSE.
Repayment and Interest Structure
The bonds will be redeemable at par in 10 equal annual installments, with interest payable on a yearly basis. The coupon rate will be finalized through bidding on the Electronic Book Provider (EBP) platform. PGCIL clarified that the bonds are completely unsecured and do not carry any special rights or privileges. The company also confirmed that it has no delays or defaults related to interest or principal payments on any of its outstanding securities.
Committee Approval and Meeting
The Committee of Directors for Bonds convened at 2:15 PM and concluded its meeting by 2:35 PM, approving the bond issuance to support the company’s funding requirements and strategic expansion plans.
Strategic Importance of the Bond Issue
The issuance of the 83rd series bonds is part of Power Grid’s long-term funding strategy aimed at financing capital expenditure and strengthening India’s national power transmission network. By securing funds through this private placement, the company aims to continue its expansion of transmission capacity and reinforce grid reliability across the country.
About Power Grid Corporation of India Limited (PGCIL)
Power Grid Corporation of India Limited, a Maharatna PSU, is India’s leading power transmission company. It operates and maintains a robust national grid spanning over 170,000 circuit kilometers and 250+ substations across the country. PGCIL plays a key role in ensuring uninterrupted power supply and supporting the government’s vision for a reliable and sustainable energy infrastructure.
