Description

BSE announces listing of PGCIL 6.98% debt securities worth ₹500 crore on private placement basis with 10-year maturity.

Summary

BSE has listed new debt securities of POWER GRID CORPORATION OF INDIA LIMITED (PGCIL) worth ₹500 crore issued on private placement basis. The securities carry 6.98% annual interest rate with 10-year maturity period and AAA credit rating from multiple agencies.

Key Points

  • Quantity: 500,000 securities with face value of ₹1,00,000 each
  • Interest Rate: 6.98% per annum paid annually
  • Maturity: 10 years (August 12, 2035)
  • Credit Rating: AAA from CARE, CRISIL, and ICRA
  • Trading in dematerialized form only
  • Tick size: 1 paise

Regulatory Changes

No regulatory changes introduced. Standard debt security listing process followed.

Compliance Requirements

  • Trading members must trade securities only in dematerialized form under ISIN INE752E08791
  • Securities to be traded with 1 paise tick size
  • Refer to Placement Memorandum for detailed terms

Important Dates

  • Allotment Date: August 12, 2025
  • First Interest Payment: August 12, 2026
  • Annual Interest Payments: August 12 each year until 2035
  • Redemption Date: August 12, 2035
  • Trading Start Date: August 12, 2025

Impact Assessment

Minimal market impact as this is a routine debt security listing. Provides PGCIL with additional funding avenue for infrastructure projects. The AAA rating indicates strong creditworthiness and should attract institutional investors seeking stable fixed-income instruments.

Impact Justification

Standard debt security listing with minimal market impact but significant for corporate funding