India Power Grid to raise up to 20 bln rupees via bonds

Last Updated: Thu, Mar 07, 2013 06:42 hrs

Power Grid Corporation of India plans to raise up to 20 billion rupees ($364.66 million) through a bond sale, proceeds of which will be used for capital expenditure, three sources with knowledge of the deal said.

The state-run firm will issue 10-year bonds and has fixed the upper band for bidding at 8.95 percent, the sources said.

The base size of the issue is 5 billion rupees.

The bond sale is scheduled to open and close on Friday, the sources added.

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