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POWERGRID to Raise Rs50 Billion via 82nd Bond Issue; Strengthens Focus on REZ Transmission Projects

Power Grid Corporation of India (POWERGRID), the state-owned transmission utility, has received approval to raise up to Rs50 billion (~$569.3 million) through private placement of bonds. This 82nd bond issue for FY 2026 includes a base size of Rs10 billion and a greenshoe option of Rs40 billion. The bonds are unsecured, non-convertible, non-cumulative, redeemable after ten years, and interest will be paid annually. The coupon rate and repayment schedule will be determined through an electronic bidding process. The bonds will be listed on the NSE and BSE.

Earlier in April 2025, POWERGRID launched its 81st bond issue aiming to raise Rs60 billion, including a Rs45 billion greenshoe option. These capital-raising efforts align with POWERGRID’s aggressive expansion in renewable energy transmission infrastructure.

In March, the company secured letters of intent worth Rs107.5 billion for three major projects from REC Power Development and Consultancy. These include evacuation systems for the Rajasthan Renewable Energy Zone (REZ) Phase V and grid augmentation in Gujarat and Andhra Pradesh.

Additionally, in February, POWERGRID won two more projects from PFC Consulting to support evacuation of 15.5 GW of renewable energy from Karnataka and Rajasthan, focusing on regions like Davanagere, Chitradurga, Fatehgarh, and Barmer, reinforcing its central role in India's REZ infrastructure build-out.