INDIGRID TRUST
IndiGrid acquires 300 MW solar power plant for Rs 1,550 cr
IndiaGrid acquires a 300 MW solar project, expanding its portfolio to 36 power projects, 46 transmission lines, 13 substations, and 855 MWAC of solar generation capacity. The acquisition aims to make IndiaGrid a sustainable and superior risk-adjusted yield platform for investors.
KKR raises $6.4 billion for Asia Pacific infrastructure fund
KKR first established its global infrastructure team and strategy in 2008 and the Firm manages approximately $56 billion in assets under management across more than 80 infrastructure investments and has a team of more than 90 dedicated infrastructure investment professionals globally.
ReNew to sell 300 MW solar project to India Grid Trust for Rs 1550 crore
India Grid Trust is an infrastructure investment trust (InvIT). The transaction is expected to close following power purchase agreement conditions. ReNew has signed a Share Purchase Agreement with India Grid Trust to sell a 300 MW solar project in Rajasthan – ReNew Solar Urja Private Limited (RSUPL)- for a total enterprise value of Rs 1550 crore.
IndiGrid raises Rs 670 crores through institutional placement
The Board of Directors of IndiGrid Investment Managers acting in the capacity of investment manager of IndiGrid, approved the issuance and allotment of 5.27 crore new units through the institutional placement to 11 eligible investors on December 8, 2023. More than 90% of incremental units were issued to insurance companies, mutual funds, pension funds, and domestic institutions.
IndiGrid completes acquisition of Virescent Renewable Energy Trust
VRET is a Sebi-registered infrastructure investment trust set up on February 25, 2021 as per provisions of the InvIT Regulations. A total of 16 solar projects with a capacity of 538 MWp will be added to the IndiGrid portfolio following the acquisition.
KKR's two InvITs - IndiGrid and Virescent - merge in first-of-a-kind deal
Infrastructure Investment Trust (InvIT) IndiGrid, owned by KKR in the Indian power sector, has taken over Virescent Renewable Energy Trust, another fund floated by the same company. Valued at INR40bn ($533m), Sebi approval is being sought for the transaction. Although Indian law currently prohibits such mergers, the deal is the first of its kind. About half a dozen domestic and global energy developers, including Jindal Steel and Power, Actis, and an Abu Dhabi-based conglomerate, competed in the final round.
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IndiGrid to acquire Virescent Renewable Energy Trust for up to Rs 4,000 cr
Infrastructure investment trust IndiGrid has signed a share purchase agreement for the acquisition of Virescent Renewable Energy Trust (VRET) at an enterprise value of up to INR40bn ($533m) in cash. IndiGrid executed the agreement to acquire 100% of the units of VRET from the unitholders of VRET in May 2023. The Virescent portfolio includes 16 operating solar projects with an asset under management of INR41.21bn as of the end of March.
Global pension funds in fray for Mahindra Susten InvIT stake
The IPP solar portfolio, located in five key states in India, is backed by long-term power purchase agreements-about 75% of assets with central government entities and the remaining with distribution companies backed by state governments.
IndiGrid raises Rs 1,140 cr via bonds
India Grid Trust has announced that IFC (International Finance Corporation) has subscribed to a listed NCD (non-convertible debenture) issuance of IndiGrid, aggregating to Rs 1,140 crore, according to a statement.
IndiGrid completes acquisition of Khargone Transmission Ltd
"IndiGrid announces the completion of acquisition of 100 per cent shareholding and economic interest in Khargone Transmission Ltd (KTL) from SPTL," it said in a statement.
IndiGrid to acquire Khargone Transmission at about Rs 1497.5 cr
The Khargone Transmission was incorporated on November 28, 2015. The transmission project was awarded by the Ministry of Power for a 35-year period from the scheduled commercial operation date, on a BOOM basis.
IndiGrid, G R Infraprojects partner to bid for power transmission projects worth Rs 5,000 crore
An agreement has been signed to jointly bid for identified TBCB (Tariff Based Competitive Bidding) transmission projects aggregating to approximately Rs 5,000 crore, it stated.
IndiGrid to acquire Raichur Sholapur Transmission Company for Rs 250 crore
IndiGrid has acquired the shares from Patel Engineering Limited, Simplex Infrastructures Limited and BS Limited, each owning 33.33% stake, respectively. The completion of acquisition would depend upon receipt of relevant approvals and completion of contractual obligations, the company said.
IndiGrid Mar qtr net jumps 45 pc to Rs 99.80 cr
The Board of the Investment Manager (of IndiGrid) also approved a Distribution Per Unit (DPU) of Rs 3.19 for Q4 FY22 ( January-March quarter) to unitholders in line with the distribution guidance.
Can’t say the market has bottomed out; but don’t sit on cash either: Ajay Srivastava
“The beauty of this market is one does not have to sit in cash. Now there are opportunities. I am not recommending but I am just giving you what my portfolio has. It has things like the IndiGrid Trust, Power Grid Trust, real estate REITs which are giving quarterly returns, the share prices are good, people are buying because the asset values are going up at the end of the day.”
REC arm hands over Kallam Transmission SPV to IndiGrid firms' consortium
REC Power Development and Consultancy Limited, a wholly-owned subsidiary of REC Ltd, handed over the project specific SPV to the consortium of IndiGrid 1 Limited and IndiGrid 2 Limited on 28th December, 2021, a company statement said.
IndiGrid consortium lowest bidder for Rs 170 crore transmission project
"Our bid of 16.74 crore levelised tariff has been noted as L1 during the reverse auction conducted on 18th November 2021. We await receipt of Letter of Intent and will release necessary intimation in due course," the company said.
IndiGrid Q2 results: Net profit slips 20% to Rs 68 crore
Total income stood at Rs 559.97 crore in the quarter against Rs 393.57 crore in the year-ago period.
Billionaire Anil Agarwal’s Sterlite Power hires banks for $403 mn IPO
The electricity transmission infrastructure firm, part of Agarwal’s Vedanta group, has selected Axis Bank Ltd., ICICI Securities Ltd. and JM Financial Ltd. to work on the first-time share sale, the people said.
IndiGrid Q1 results: Net profit down 5% to Rs 81 crore
Total income rose to Rs 564.99 crore in the quarter from Rs 367.45 crore in the same period a year ago.
IndiGrid acquires 100 MW solar assets from FRV for Rs 660 cr
With this acquisition, the company's asset portfolio will now consist of 14 diversified power projects consisting of 40 transmission lines (7,570 circuit kilometers) ,11 substations (13,550 MVA capacity) and 100 MW of solar power plants across 18 states and one Union Territory.
IndiGrid InvIT hits public bond sale, gets double subscriptions
A large Mumbai-based infrastructure conglomerate and a private life insurance company attached to a “salt-to-steel” group bid to own those papers with yield-hungry wealthy investors taking the lead, sources told ET.
IndiGrid NCD issue oversubscribed nearly 10 times, to raise Rs 1,000 cr
Through the issue of non-convertible debt securities IndiGrid aims to raise up to Rs 1,000 crore.
IndiGrid to raise up to Rs 1,000 cr via NCDs
The allotment committee of the board of directors of IndiGrid Investment Managers Ltd, acting in the capacity of Investment Manager to India Grid Trust (IndiGrid) was held on Thursday (April 22, 2021).
IndiGrid acquires NER-II Transmission for Rs 4,625 crore
IndiGrid completed the largest transmission project deal by acquiring NER-II Transmission Ltd at an enterprise value of Rs 4,625 crore, the company said in a statement.
IndiGrid Investment Managers board to consider Rs 1,500-cr rights issue
IndiGrid Investment Managers Limited is the investment manager of the India Grid Trust (IndiGrid), an infrastructure investment trust.
IndiGrid to buy 100% stake in NER II from Sterlite Power for Rs 4,625 crore
The indicative value of the acquisition is Rs 4,625 crore and would boost IndiGrid's asset under management (AUM) by 34 per cent to over Rs 20,000 crore (USD 2.8 billion).
IndiGrid Q3 results: Net profit down 28% at Rs 94.58 cr; firm declares Rs 3.10 distribution per unit
The consolidated net profit of the firm was Rs 131.83 crore in the quarter ended December 2019, as per a BSE filing.
KKR's India InvIT in talks to acquire FRV Solar assets
FRV had been in discussion with various power producers, investors such as Hero Future Energies, EverSource and Edelweiss to sell India assets, which did not fructify.
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