MUMBAI, March 7 (Reuters) - Power Grid Corporation of India plans to raise up to 20 billion rupees ($364.66 million) through a bond sale, proceeds of which will be used for capital expenditure, three sources with knowledge of the deal said.
The state-run firm will issue 10-year bonds and has fixed the upper band for bidding at 8.95 percent, the sources said.
The base size of the issue is 5 billion rupees.
The bond sale is scheduled to open and close on Friday, the sources added. ($1 = 54.8450 Indian rupees) (Reporting by Archana Narayanan; Editing by Jijo Jacob)