Powergrid plans to issue bonds for raising up to Rs 40 billion by September 2016

Powergrid Corporation of India Limited plans to raise up to Rs 40 billion through domestic bonds by September 2016. The funds will be utilised to meet the company’s working capital expenditure. This would be the third round of fund raising undertaken by the company in 2016-17. Powergrid had been granted approval to raise Rs 140 billion via bonds during 2016-17. So far, it has raised Rs 60 billion in two tranches in April and July 2016.