Ambit Capital and SBI Caps are conducting a preferential issuance process on behalf of IndiGrid. | Source: Official Website
India Grid Trust on Tuesday said Alberta Investment Management Corporation and HDFC Life will invest Rs 567 crore and Rs 100 crore respectively.
According to a statement, India Grid Trust (IndiGrid) announced the launch of its preferential issue process to raise Rs 695 crore following the successful completion of the offer for sale (OFS).
IndiGrid on Tuesday launched its preferential issue process to raise Rs 695 crore through primary issue of units at Rs 136.43 per unit, it added.
IndiGrid has received investment commitments from Alberta Investment Management Corporation (AIMCo), one of Canada’s largest and most diversified institutional investment managers, and HDFC Life for an investment of Rs 567 crore and Rs 100 crore, respectively, with the balance committed by other investors.
Ambit Capital and SBI Caps are executing a preferential issuance process on behalf of IndiGrid.
Harsh Shah, CEO, IndiGrid, said, “We are also delighted to welcome AIMCo and HDFC Life through preferential issue, to our list of esteemed investors.”
Ahmed Mubashir, Managing Director and Head of Infrastructure for EMEA and India at AIMCo, said: “AIMCo is also impressed by IndiGrid’s track record in enabling accretive growth and is excited to continue supporting and facilitating that journey with this capital injection.”
Last week, KKR successfully concluded an OFS process to reduce its holding of units from 21.17 percent to 3.85 percent.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: August 27, 2024 | 21:53 IS
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