India New Issue-PGC to issue staggered redemption bonds, bankers say

Power Grid of India

25/09/2026 04:13

MUMBAI, Sept 25 (Reuters) - Power Grid Corporation of India PGRD.NS plans to raise 50 billion rupees ($521.08 million), which includes a greenshoe option of 40 billion rupees, through sale of staggered redemption bonds with four-year to 10-year maturity, three bankers said on Friday.
The company has invited coupon and commitment bids for the issue on Monday, they said.
The company did not reply to a Reuters email seeking comment.

 
   Here is the list of deals reported so far on September 25: 
Issuer
Tenure
Coupon (in %)
Issue size (in bln rupees)*
Bidding date
Rating
Power Grid Corp
10 years
To be decided
10+40
September 28
AAA (Crisil)
Sagarmala Finance Corp 
10 years
To be decided
1+5
September 28
AA+ (Icra, Care
Clean Max Enviro
2 years
8.25
2
September 24
AA (Crisil)
Clean Max Enviro
3 years
8.4850
4
September 24
AA (Crisil)
Clean Max Enviro
5 years
8.7650
8.07
September 24
AA (Crisil)
Clean Max Enviro
10 years
8.7650
6.15
September 24
AA (Crisil)
Clean Max Enviro
10 years
8.7650
4.78
September 24
AA (Crisil)
Sammaan Capital
Apr 2028 reissue 
1 year and 7 months
8.91 (yield)
2.50
September 24
AA+ (Crisil, Icra)
Sammaan Capital
Jun 2028 reissue 
1 year and 9 months
8.95 (yield)
2.50
September 24
AA+ (Crisil, Icra)
Sammaan Capital
Sept 2029 reissue 
3 years
9.04 (yield)
2.50
September 24
AA+ (Crisil, Icra)

   * Size includes base plus greenshoe for some issues



($1 = 95.9550 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Subhranshu Sahu)
 ((Dharamraj.dhutia@tr.com))