IndiGrid Investment Managers board approves plan to raise ₹1,284 cr via rights

NEW DELHI : Infrastructure investment trust IndiGrid on Wednesday said IndiGrid Investment Managers’ board has approved a proposal to raise up to ₹1,283.65 crore through a rights issue.

“A meeting 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 March 23, 2021, wherein the Board inter-alia considered and approved a total number of Units and rights Issue size of up to 116,695,404 Units for an amount aggregating to ₹1,283.65 crores,” IndiGrid said in a regulatory filing.

The size of the issue will be subject to the finalisation of allotment in the issue, according to the filing.