In a first rights issue by a public-listed infrastructure investment trust (InvIT), IndiGrid Investment Managers, plans to raise Rs 1,283.65 crore through rights issue to fund future acquisitions and pay existing debt. The rights issue has been priced at Rs 110 per unit and will open on April 6 and close on April 13.
Harsh Shah, CEO of IndiGrid, told FE that the issue would help them raise pre-emptive equity to create leverage headroom and capitalise on future growth opportunities. “The proceeds will be used to fund NER-II acquisition, repay some debt and create a war-chest to support future acquisitions and other general corporate funding,” Shah said.
