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IndiGrid Gains Investment Commitments from AIMCo, HDFC, and Key Investors

editor by editor
August 29, 2024
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India Grid Trust (IndiGrid) has initiated a preferential share issue priced at Rs 136.43 per share to raise approximately Rs 6.95 billion.

This follows the successful completion of an offer-for-sale (OFS) by its sponsor, KKR, which garnered significant interest from both existing and new long-term investors. The OFS, intended to reduce KKR’s stake from 21.17 per cent  to 3.85 per cent, was nearly two times oversubscribed. The offering attracted participation from major institutional investors such as L&T, HSBC Global Asset Management, SBI Life Insurance, and Aditya Birla Mutual Fund. Additionally, Alberta Investment Management Corporation (AIMCo) of Canada and HDFC Life have committed investments of Rs 5.67 billion and Rs 1 billion, respectively.

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