Powergrid Corporation of India’s (POWERGRID) board has approved raising up to ₹50 billion (~$541.45 million) through an unsecured rupee term loan or line of credit from the Union Bank of India. The loan will provide the company with additional financial resources for its operational and strategic requirements. The board also granted approval to divest POWERGRID’s equity stake in Central Transmission Utility of India, which is currently a wholly owned subsidiary of the company. The proposed divestment will involve transferring the stake to the Grid Controller of India.
