What was approved
On 18 September 2026, POWERGRID's Committee of Directors for Bonds approved raising funds through its 84th (LXXXIV) bond issue for 2026-27. Per the filing, the instruments are unsecured, non-convertible, non-cumulative, redeemable and taxable bonds, to be issued on a private-placement basis, with a base size plus a green-shoe option that can expand the total.
The bonds are proposed to be listed on both BSE and NSE. The tenure runs 10 years from the deemed date of allotment, with annual redemption payments beginning at the end of the fourth year, per the filing.
Terms still to be set
The coupon and interest terms have not yet been fixed; the filing states these will be decided after bidding on the Electronic Book Provider (EBP) platform. The company reported no security or charge created over its assets, no special rights attached to the instruments, and no defaults or adverse comments on past interest or principal payments.
The meeting ran from 11:15 A.M. to 11:30 A.M.