July 25, 2012 / 8:57 AM / 5 years ago

India's Power Grid to raise up to $1.25 bln via domestic bonds

MUMBAI, July 25 (Reuters) - State-run transmission utility Power Grid Corp of India plans to raise 60 billion to 70 billion rupees ($1.07 billion to $1.25 billion) via domestic bonds in the second half of the fiscal year ending March 2013, said R. T. Agarwal, director finance, on Wednesday.

The funds would be used to support the company’s capital expenditure of 200 billion rupees planned for this year, he said.

The company may raise $250 million to $300 million in overseas bonds as well, if markets conditions are favourable, he said. ($1 = 56.16 rupees) (Reporting by Ketan Bondre; Editing by Anand Basu)

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