India Grid Trust (IndiGrid), an infrastructure investment trust (InvIT) sponsored by Sterlite Power Grid Ventures Ltd, has started roadshows to raise ₹2,500-3,000 crore in fresh capital, said three people aware of the development.
IndiGrid currently owns 10 independent revenue-generating assets, including eight transmission lines of 1,936 circuit km and two substations of 6,000 MVA capacity. InvITs are trusts that manage income-generating infrastructure assets, offering investors regular yields and a liquid way to invest in infrastructure projects.
“IndiGrid has recently started roadshows for its fresh capital raising exercise. They have appointed investment banks Citi, Axis Capital and Edelweiss to manage the process. They are talking to various institutional investors, including sovereign wealth funds.
The target is to raise ₹2,500-3,000 crore, but the final quantum will depend on the demand from investors,” said one of the people, requesting anonymity. “They need to keep raising capital to acquire new assets.” Read More
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