IndiGrid to raise Rs 27.5 billion for acquisition, refinancing old debt

Global investment firm KKR-backed India Grid Trust (IndiGrid) plans to raise Rs 1,250 crore via debentures to refinance old debt and acquisition.

IndiGrid, which manages power transmission and power generation assets, would also raise up to Rs 1,500 crore in equity to bring down the ratio of debt to assets under management to 60 per cent from 65 per cent for prudent financial management.

In May 2023, IndiGrid had announced the acquisition of 100 per cent of Virescent Renewable Energy Trust (VRET), along with its investment manager and project manager. The deal is expected to be valued at Rs 4,000 crore, subject to regulatory approvals and closing adjustments.