New Delhi, Aug 30 (SocialNews.XYZ) Power Grid Corporation will seek its shareholders' approval in its upcoming Annual General Meeting on September 22, to raise Rs 10,000 crore from the domestic market through bonds under private placement during the financial year 2021-22.
In a regulatory filing, the company said that the amount will be raised in up to 20 tranches.
Among other proposals, the company also put to vote the special resolution "to raise funds up to Rs 10,000 crore, from domestic market through issue of secured / unsecured, non-convertible, noncumulative/cumulative, redeemable, taxable / tax-free Debentures/Bonds under Private Placement during the Financial Year 2021-22 in upto twenty tranches/offers".
The company plans to utilise the amount for financing of capital expenditure, providing inter corporate loans to wholly-owned subsidiaries among other other purposes as may be approved by the Board of Directors or Committee of Directors for Bonds.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
