The Power Grid Corporation of India (POWERGRID) said it would raise unsecured, non-convertible, non-cumulative, redeemable, and taxable bonds worth ₹6 billion (~$72.86 million) through private placement. The funds will be raised through the securitization of cash flows for ten of its special-purpose vehicle and an operational subsidiary ­POWERGRID NM Transmission. The subsidiary has been engaged in implementing Nagapattinam-Salem 765 kV D/C Line (about 203 kilometers) and Salem- Madhugiri 765 kV S/C Line (about 220 kilometers).