Power Grid Corporation of India Ltd

Funding arrangement approved

• Approved raising funds via unsecured Rupee Term Loan/LOC up to Rs 10,000 crore from State Bank of India.

TBCB award and scope

• POWERGRID declared successful TBCB bidder for interstate transmission system (BOOT).
• Projects include Lakadia Phase II (7.5 GW), Jam Khambhaliya Phase II (5.5 GW), Jamnagar Phase I (1 GW).
• Quoted Annual Transmission Charges: Rs 430.67 crore.
• LoI received on 25 September 2026.
• Alephata Sub-station (765/400/220 kV) to be established in Maharashtra; 765/400 kV lines traversing state.
• Nine TBCB projects secured in FY2026-27 to date; cumulative ATC Rs 7,664.08 crore.
• Enhances POWERGRID's TBCB project pipeline and potential revenue.

Power Grid Corporation of India Ltd – Closure of Trading Window from 30 September 2026 till 48 hours after the declaration of financial results for the quarter and half year ending 30 September 2026.

Acquisition overview

• Barmer HVDC Power Transmission Limited, SPV to develop inter-state power transmission projects in India.
• Aggregate consideration around Rs 18.98 crore, including 50,000 equity shares at Rs 10 each.
• Acquired 100% shareholding on 23.09.2026.
• Not a related party transaction; no promoter/group interest prior to acquisition.
• Industry: Power Transmission.
• Purpose: TBBCB bidder to develop Barmer HVDC transmission system for Rajasthan REZ Ph-IV.
• Transfer approvals for acquisition secured by Bid Process Coordinator.
• CERC approvals for license and charge adoption to be obtained.
• Acquisition completed per timelines furnished by Bid Process Coordinator.
• Background: incorporated 30.09.2025; not yet operational; no turnover in last 3 years; operates in India.
• Project scope: 6,000 MW, ±800 kV HVDC terminals Barmer-II and South Kalamb; ~1,000 km line.
• Involves construction of 400 kV lines and two SynCon units.

Meeting Details

• Board meeting on 26 September 2026 to consider raising funds via unsecured rupee term loan/line of credit.

Key Agenda Items

• Raising funds through unsecured rupee term loan/line of credit (bank facility).

Other Notes

• Time and venue for the meeting are not disclosed.

Bond issue approval and terms

• Committee approved private placement of POWERGRID Bonds - LXXXIV (84th) Issue 2026-27 up to Rs 5,000 crore.
• Base size Rs 1,000 crore; Green Shoe option Rs 4,000 crore; Total Rs 5,000 crore.
• Proposed listing on BSE and NSE.
• Tenure 10 years from deemed allotment; annual redemptions from end of year 4.
• Coupon to be decided after bidding on EBP platform.
• Security: Unsecured; Special rights attached: None.

Meeting Details

• Date: 18 September 2026; time and venue not disclosed.

Key Agenda Items

• Consider issue of unsecured NCDs, non-convertible, non-cumulative, redeemable, taxable, under private placement as POWERGRID Bond LXXXIV.

Auditor Appointment

• CAG appoints four joint statutory auditors for Power Grid for FY 2026-27.
• Auditors: ASA & Associates LLP; BNCA & Co.; Jain Paras Bilala & Co.; KC Mehta & Co. LLP.

Award details

• Selected as successful bidder under Tariff Based Competitive Bidding (TBCB) for Lakadia REZ Phase II.
• Letter of Intent received on 3 September 2026.
• Quoted Annual Transmission Charges: Rs. 1,152.49 crore.
• Project scope includes new 765/400 kV Lakadia-II Sub-station.
• Involves 765 kV transmission lines, equipment, bays, and synchronous condenser.
• BOOT basis; inter-state transmission system.