PGCIL gets shareholders' nod to raise up to Rs 10,000 cr

New Delhi: Power Grid Corporation of India Ltd (PGCIL) has got shareholders' approval to raise up to Rs 10,000 crore via bonds on a private placement basis in 2021-22. All resolutions as set out in the notice of 31st Annual General Meeting held on September 22 have been duly approved by the shareholders with requisite majority, a BSE filing said on Thursday.

The company had proposed a special resolution in the AGM to raise up to Rs 10,000 crore from domestic market in financial year 2021-22.

The funds were proposed to be raised through issuance of secured or unsecured, non-convertible, non-cumulative or cumulative, redeemable, taxable or tax-free debentures or bonds under private placement in up to 20 tranches/offers.