Power Grid Secures New Transmission Project and Plans 81st NCD Issue

Power Grid Corporation of India Limited (POWERGRID), a Maharatna CPSU and one of India’s leading electric utilities, has announced that its “Committee of Directors for Bonds” will meet on April 4, 2025. The agenda? To consider the issuance of Unsecured, Non-Convertible, Non-Cumulative, Redeemable, Taxable Bonds under private placement. This will be POWERGRID’s 81st (LXXXI) bond issue in the financial year 2025-26.

The company aims to raise capital through these Non-Convertible Debentures (NCDs), which are typically used for funding capital expenditure or refinancing existing liabilities. While the terms, amount, and tenure are yet to be disclosed, the move highlights POWERGRID’s continuous reliance on bond markets as a strategic financing avenue.

Declared Successful Bidder for Inter-State Transmission Project

In another development, POWERGRID has been declared the successful bidder under Tariff Based Competitive Bidding (TBCB) norms for a major inter-state transmission system. The project is titled:

“Transmission System for evacuation of power from Mahan Energen Limited Generating Station in Madhya Pradesh.”

This win comes under the Build, Own, Operate and Transfer (BOOT) model, further solidifying POWERGRID’s dominant role in the transmission infrastructure domain. The Letter of Intent (LoI) for this project was received on April 1, 2025.

Project Highlights

The awarded project will involve the development of a 400kV double-circuit transmission line along with associated bays at the existing Rewa Power Station (PG) sub-station, located in Madhya Pradesh. Once operational, the transmission system is expected to enhance the evacuation capacity from Mahan Energen’s generating units, thereby improving regional grid reliability and supporting power availability in the state.

Share Price Movement 

The share price of Power Grid was seen trading down by 0.60% at ₹287.40 as of 10:58 AM on April 2, 2025.

Conclusion

These 2  announcements—progress on the bond issuance front and securing of a new infrastructure project—reflect POWERGRID’s dual focus on financial discipline and project execution. 

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