India Grid Trust Rights Issue - Terms of Payment, Entitlement & Details

India Grid Trust Rights Issue Details

Issue Dates 06 Apr 2021 - 13 Apr 2021
Issue Price 110
Issue Size Rs. 1283.65 Cr.
Market Lot 1701 Per Share
Terms of Payment The full amount of Rs 110 per Unit shall be payable on Application.
Entitlement 1 Lot for every 5 Lots held by the Eligible Unitholders on Record Date. (1 lot=1701 units)

About India Grid Trust

They are India’s first listed power sector infrastructure investment trust, sponsored by the KKR Sponsor and the Sterlite Sponsor. IndiGrid was established on October 21, 2016 and is registered with SEBI pursuant to the InvIT Regulations.

IndiGrid was established to own and operate power transmission and renewable energy assets in India. We own twelve operating projects, consisting of 34 EHV overhead power transmission lines, comprising 7,765 kV transmission lines and 27, 400 kV transmission lines, with a total circuit length of approximately 6,740 ckms and 9 substations with approximately 12,290 MVA of transformation capacity, across 15 states and 1 union territory, in India. IndiGrid has assets under management worth of approximately ₹ 142,000 million as on December 31, 2020. IndiGrid Investment Managers Limited (formerly known as Sterlite Investment Managers Limited), is the investment manager of the InvIT and is majority owned by Electron IM Pte. Ltd., an affiliate of the KKR Sponsor. We have consistently been given a corporate credit rating of ‘CCA AAA/Stable’ by CRISIL, ‘IND AAA’/Stable by India Ratings and ‘ICRA AAA (Stable)’ by ICRA.

They are focused on providing stable and sustainable distributions to our Unitholders. We believe that we are well positioned to take advantage of the growth potential of India’s power industry given the quality of our power transmission assets and our financial position, support from our Sponsors and the robust regulatory framework for power transmission and solar projects in India. We believe the infrastructure necessary to transmit and deliver electricity is vital to India’s continued economic advancement, given the inter-regional power deficit in India resulting from a mismatch between power generation and load centers and the demand-supply deficit which is expected to result from India’s projected GDP growth.

Private investment in transmission and renewable energy sectors is a key focus area for India’s Ministry of Power. Our diversification into solar assets will result in significant synergies with our existing business model. Our continued focus and strategy will be on accretive acquisition of power transmission and solar projects with annuity profile in their respective TSAs and long terms PPAs yielding stable cash flows, operational track record, good quality equipment and financially strong and creditworthy counterparties.

Company Financials

Particulars 31-Mar-20 31-Mar-19 31-Mar-18
Total Assets (In ₹ Millions) 1,17,920.19 53,462.26 53,786.94
Total Revenue (In ₹ Millions) 12,785.94 6,739.05 4,605.00
Profit After Tax (PAT) (In ₹ Millions) 5,057.20 1,539.14 2,103.50

India Grid Trust Rights Issue FAQs

  1. What is the Issue Dates for India Grid Trust?

    The India Grid Trust Rights Issue will open on 06 Apr 2021 and closes on 13 Apr 2021.

  2. What is the Issue price of India Grid Trust Rights Issue?

    The Issue price of India Grid Trust Rights Issue is Rs.110.

  3. What is the Issue size of India Grid Trust Rights Issue?

    The Issue size of India Grid Trust Rights Issue is Rs. 1283.65 Cr.