State-owned Power Grid Corporation of India (PGCIL) is planning to hike shareholding limit for Foreign Institutional Investors (FIIs) in the company to 30% from existing 24%. In this regard, the company is seeking its shareholders’ approval.
Increasing the limit will also facilitate FIIs to acquire shares within the proposed limit of 30% of paid-up capital under the portfolio investment scheme of the Reserve Bank of India (RBI).
Besides, the company is also seeking approval from shareholders to increase borrowing limits to Rs 1,30,000 crore from current cap of Rs 1,00,000 crore.
PGCIL, the Central Transmission Utility (CTU), is engaged in power transmission business with the mandate for planning, co-ordination, supervision and control over Inter-State transmission systems and operation of the National and Regional Power Grids. It is also in the telecom business and offers consultancy services.
Increasing the limit will also facilitate FIIs to acquire shares within the proposed limit of 30% of paid-up capital under the portfolio investment scheme of the Reserve Bank of India (RBI).
Besides, the company is also seeking approval from shareholders to increase borrowing limits to Rs 1,30,000 crore from current cap of Rs 1,00,000 crore.
PGCIL, the Central Transmission Utility (CTU), is engaged in power transmission business with the mandate for planning, co-ordination, supervision and control over Inter-State transmission systems and operation of the National and Regional Power Grids. It is also in the telecom business and offers consultancy services.
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