Power Grid Corporation of India Limited (POWERGRID) announced that its board of directors approved a proposal to increase the borrowing limits from Rs 1,80,000 crore to Rs 2,20,000 crore. The revised borrowing ceiling is subject to shareholder approval at the ensuing annual general meeting of POWERGRID.
The board also approved raising foreign currency funds through external commercial borrowings (ECB) of up to USD 500 million from Bank of Baroda. POWERGRID will deploy these funds to finance its capital expenditure requirements for ongoing and planned power transmission projects across various regions.
POWERGRID's board granted investment approval for the upgradation and conversion of the existing Udumalpet-Madurai 400kV single-circuit transmission line to a 400kV quad double-circuit configuration. The estimated cost of the project is Rs 772.65 crore.
The transmission line project is scheduled for implementation within 30 months from the date of allocation, with completion targeted by August 11, 2028. The conversion to a double-circuit configuration will increase the power transmission capacity along the Udumalpet-Madurai corridor for the regional transmission network in southern India.
The board meeting was held on June 26, 2026, commencing at 1:30 PM and concluding at 3:00 PM. POWERGRID disclosed these decisions to the stock exchanges in compliance with SEBI Listing Regulations, 2015.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.