Powergrid Corporation of India (PGCIL) or POWERGRID is a state-owned electric utility company headquartered in Gurugram. The company transmits about 50 percent of the total power generated in India through its transmission network. Its former subsidiary company Power System Operation Corporation Limited (POSOCO) handles power management for the national grid and all state transmission utilities.
POWERGRID was incorporated on 23 October 1989 under the Companies Act, 1956 with an authorized share capital of Rs. 5,000 crore (subsequently enhanced to Rs. 10,000 crore in the financial year (FY 2007-08) as a public limited company, wholly owned by the government.
Its original name was the 'National Power Transmission Corporation Limited', and it was charged with planning, executing, owning, operating and maintaining high-voltage transmission systems in the country. On 8 November 1990, the National Power Transmission Corporation received its Certificate for Commencement of Business. Their name was subsequently changed to Power Grid Corporation of India Limited, which took effect on October 23, 1992.