Government-owned transmission utility, Power Grid Corporation of India (POWERGRID), has received approval to raise up to ₹50 billion (~$569.3 million) via private placement of bonds.

The 82^nd issue of POWERGRID bonds in FY 2026 comprises a base size of ₹10 billion (~$113.86 million) and a greenshoe size of ₹40 billion (~$455.4 million). The bonds will be unsecured, non-convertible, non-cumulative, redeemable, and taxable.

The bonds will be redeemable at the end of the tenth year, and interest will be paid annually.

The coupon/interest offered, the schedule of payment of coupon or interest, and principal will be decided after bidding at the electronic book provider.

The bond issue is proposed to be listed on the National Stock Exchange of India and the Bombay Stock Exchange.

In April this year, POWERGRID announced it would raise up to ₹60 billion (~$720 million) through a private placement of bonds. The 81^st issue of POWERGRID bonds (2025-26) included a greenshoe option of ₹45 billion (~$540 million) and a base issue size of ₹15 billion (~$180 million).

In March, POWERGRID received letters of intent for three transmission projects from REC Power Development and Consultancy under tariff-based competitive bidding, cumulatively worth ₹107.5 billion (~$1.2 billion). The three projects are a transmission system for power evacuation from the Rajasthan Renewable Energy Zone (REZ) Ph-V, an augmentation of transformation capacity at Banaskantha, Gujarat, and another transmission system project for the integration of Kurnool-IV REZ Phase-I in Andhra Pradesh.

In February, POWERGRID won two transmission projects from PFC Consulting to evacuate 15.5 GW of power from renewable energy zones in Karnataka and Rajasthan. The transmission works involve developing a transmission system for the integration of the Davanagere/Chitradurga and Bellary renewable energy zone in Karnataka and augmentation of existing and under-construction substations in Fatehgarh-II PS, Fatehgarh-IV PS (Section II), and Barmer-I PS in Rajasthan.