The board of Power Grid Corporation of India has approved a proposal to raise up to ₹5,000 crore through the issuance of unsecured, non-convertible, redeemable, taxable POWERGRID Bonds – LXXXIV (84th) Issue 2026-27 on a private placement basis. According to reports from LiveMint, the decision was taken by the company's Committee of Directors for Bonds at a meeting held on September 18, 2026. The proposed issue comprises a base size of ₹1,000 crore and a green shoe option of ₹4,000 crore, taking the total issue size to ₹5,000 crore. The bonds will be listed on both BSE and NSE with a 10-year tenure from the deemed date of allotment, with annual redemption payments beginning from the end of the fourth year. As per LiveMint, the stock ended 2.5% higher at ₹270 following the announcement, though the stock has remained under pressure in recent months with declines of 0.5% in one month, 8% in three months, 11% in six months, and 8% over the last one year.
The bonds will have a tenure of 10 years from the deemed date of allotment, with annual redemption payments beginning from the end of the fourth year. As reported by LiveMint, the coupon or interest rate on the bonds has not yet been decided, with the company stating that the coupon, interest payment schedule and principal payment details will be finalised after bidding on the Electronic Book Provider (EBP) platform. The bonds are proposed to be carried out through the Electronic Book Provider (EBP) platform and will be unsecured, meaning they will not have any specific charge or security created over the company's assets. According to LiveMint, there are no special rights, interests or privileges attached to the instruments, and the company disclosed that there had been no delay of more than three months in the payment of interest or principal.
Financially, Power Grid Corp. reported a 0.9% decline in Q1 FY27 consolidated net profit to ₹3,598 crore, missing the Street estimate of ₹3,866.5 crore. According to LiveMint, revenue from operations rose 2.7% YoY to ₹11,497 crore, but also fell short of estimates. At the operating front, earnings before interest, tax, depreciation and amortisation (Ebitda) increased 4.3% YoY to ₹9,536 crore, while Ebitda margin expanded to 82.9% from 81.7% a year ago. Despite the lower-than-expected profit and revenue, the company saw improvement at the operating level with Ebitda rising 4.3% YoY to ₹9,536 crore.
Power Grid Corporation of India is a state-owned power transmission company engaged in the transmission of electricity across India. As reported by LiveMint, the company operates one of the country's largest transmission networks and is also involved in telecom and consultancy businesses related to the power sector. The company's diversified operations span across multiple segments of India's power infrastructure and telecommunications sectors. Power Grid Corporation of India is classified as a Maharatna PSU and is responsible for transmitting electricity across India, with its stock having delivered multibagger returns of 101% over a five-year period, though it has faced recent pressure with declines in the short term.
