Powergrid plans to raise Rs 20 biilion-Rs 30 billion via masala bonds

Power Grid Corporation of India Limted (Powergrid) is planning to raise between Rs 20 billion and Rs 30 billion via masala bonds in fiscal year 2018-19. The state-owned entity is planning a capex of Rs 250 billion for 2018-19, of which 70 per cent will be raised either through loans or bonds. The rest of the amount is to be raised via internal accruals. Powergrid already has a $1 billion medium-term note programme in place.