Description

POWER GRID CORPORATION OF INDIA LIMITED announces part redemption and interest payment for three series of bonds with reduced face values effective October 31, 2025.

Summary

POWER GRID CORPORATION OF INDIA LIMITED has announced part redemption and interest payment for three series of bonds. The record date is set as November 1, 2025, and trading in these bonds will commence with reduced face values from October 31, 2025 (Settlement DR-747/2025-2026).

Key Points

  • Three series of POWER GRID bonds undergoing part redemption
  • PGCL-7.40%-17-2-33-PVT (INE752E08676): Face value reduced to Rs. 72,500 per bond
  • PGCIL-7.52%-23-3-33-PVT (INE752E08684): Face value reduced to Rs. 75,000 per bond
  • PGCIL-7.56%-31-3-33-PVT (INE752E08692): Face value reduced to Rs. 75,000 per bond
  • Part redemption accompanied by interest payment on all three series
  • Trading members notified of reduced face value trading

Regulatory Changes

No regulatory changes introduced. This is a standard corporate action notification for bond redemption.

Compliance Requirements

  • Trading members must note the reduced face values effective from October 31, 2025
  • All trading in the affected bonds must reflect the new face values from the effective date
  • Settlement number DR-747/2025-2026 applies to all three bond series

Important Dates

  • Record Date: November 1, 2025 (for interest payment and part redemption eligibility)
  • Effective Date: October 31, 2025 (trading with reduced face value begins)
  • Settlement Number: DR-747/2025-2026

Impact Assessment

Bondholder Impact: Bondholders will receive partial redemption proceeds and interest payments. The face value reduction reflects the partial return of principal, reducing ongoing exposure to these instruments.

Market Impact: Limited broader market impact as this is a routine corporate action specific to POWER GRID bondholders. Trading members need to update systems to reflect the new face values to ensure accurate pricing and settlement.

Operational Impact: Trading members must ensure their systems are updated to handle the reduced face values from October 31, 2025, to avoid settlement errors.

Impact Justification

Part redemption of bonds affects bondholders of POWER GRID with specific face value reductions. Medium impact as it is routine corporate action for debt securities with clear timelines.