Low PE President of India-Backed Power Transmission Stock Approves Rs 35,000 Crore Borrowing Plan for FY27 and FY28
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POWERGRID approved proposals to raise its annual borrowing limit to Rs 35,000 crore for FY27 and also approved a Rs 35,000 crore borrowing programme for FY28, subject to shareholders' approval
✨ Key Takeaways
On Thursday, Indian equity benchmark indices traded lower, with the benchmark Nifty 50 index declining 78.55 points, or 0.33 per cent, to 23,917.70. During the same session, POWERGRID share price was marginally lower by 0.02 per cent at Rs 289.25. The stock remained in focus after the company announced key decisions taken at its Board meeting held on July 22, 2026.
POWERGRID Approves Higher Borrowing Limit
The Board of Directors approved a proposal to enhance the company's borrowing limit for FY2026-27 from Rs 30,000 crore to Rs 35,000 crore. The borrowing may be raised through various instruments, including secured or unsecured domestic bonds, non-convertible, cumulative or non-cumulative, redeemable, Taxable or tax-free bonds through private placement. The proposal is subject to shareholders' approval at the ensuing Annual General Meeting (AGM).
Rs 35,000 Crore Borrowing Plan Approved for FY28
The Board also approved a proposal to borrow up to Rs 35,000 crore during the financial year 2027-28 through multiple funding sources, including domestic bonds. Similar to the FY27 enhancement, this proposal will also require shareholders' approval at the upcoming AGM.
Also Read - Dr Reddy's Laboratories Reports 69% YoY Decline in Q1 FY27 Profit Despite Strong India and Emerging Markets Growth; Shares Fall Over 2%
Joint Cost Auditors Appointed
In addition, the Board approved the appointment of M/s R. M. Bansal & Co., Cost Accountants, and M/s Chandra Wadhwa & Co., Cost Accountants, as the joint Cost Auditors of the company for the financial year 2026-27. Both firms have extensive experience in conducting cost audits for public sector enterprises, including previous assignments with POWERGRID.
About POWERGRID
Power Grid Corporation of India Limited (POWERGRID) is a Maharatna Central Public Sector Enterprise engaged in power transmission across India. The company owns, operates and maintains one of the world's largest transmission networks and plays a key role in strengthening the country's electricity infrastructure by providing efficient and reliable interstate power transmission services.
As per the latest shareholding pattern, the President of India is the company's largest shareholder, holding a 49.40 per cent stake in POWERGRID
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Disclaimer: The article is for informational purposes only and not investment advice.