PowerGrid plans to raise Rs 80 billion through the sale of bonds in the domestic market over the next fiscal

 

 

Power Grid Corporation of India Ltd (PGCIL) plans to raise Rs 8,000 crore through the sale of bonds in the domestic market over the next fiscal (2011-12). "We will be raising this money in the second and third quarter of the next financial year," the Director-Finance, Mr J. Sridharan, said on Tuesday. The world's third-largest power transmission company operates 95 per cent of the country's inter-State network, carrying half of all power generated in the country. PGCIL, which launched a share sale to raise up to Rs 7,600 crore on Tuesday, aims to double capital spending to about Rs 1,20,000 crore in the Twelfth Five Year Plan (2012-17).