Power Grid shares surged 3% after shareholders approved a Rs 40,000 crore enhancement in the company’s borrowing limits. The overall limit has been raised to Rs 2.2 lakh crore from Rs 1.8 lakh crore. The domestic debt limit for private placement of bonds and debentures has gone up to Rs 35,000 crore from Rs 30,000 crore.
Power Grid borrowing limit raised to Rs 2.2 lakh crore
The overall borrowing limit was raised through a special resolution, from Rs 1,80,000 crore to Rs 2,20,000 crore. A second special resolution increased the domestic borrowing limit for issuing secured or unsecured, convertible or non-convertible debentures and bonds under private placement, from Rs 30,000 crore to Rs 35,000 crore, for the financial year 2026-27.
Members also cleared a separate resolution permitting the company to raise up to Rs 35,000 crore through similar instruments in one or more tranches during 2027-28.
Power Grid AGM approves FY27 borrowing and dividend resolutions
The AGM was attended by 181 members and chaired by Burra Vamsi Rama Mohan, Chairman and Managing Director of the company.
Members confirmed the first and second interim dividends already paid during the year and approved the final dividend for 2025-26.
Power Grid shareholders approve director reappointments and auditor fees
Yatindra Dwivedi and Naveen Srivastava were reappointed as directors after retiring by rotation. Shareholders also approved the appointment of Burra Vamsi Rama Mohan as Chairman and Managing Director, a position not subject to retirement by rotation.
The Board was authorised to fix the statutory auditors’ remuneration for 2026-27, and the cost auditors’ remuneration for the same year was ratified.
About Power Grid Corporation of India
Power Grid Corporation of India is a Government of India enterprise and the country’s principal electric power transmission utility, responsible for the bulk transfer of power across state and regional boundaries. The company operates and maintains a significant part of India’s inter-state transmission network and is listed on both the National Stock Exchange and BSE. Its registered office is in New Delhi, with corporate headquarters in Gurugram, Haryana.
Power Grid share price performance
Power Grid Corporation of India’s share price is up 3.03% in intraday trade on August 21. The company’s stock price was down 4.62% in the past month. Over the past year, the share price has been down 3.7%.