IndiGrid secures ₹1500 crore through institutional placement issue

The infrastructure investment trust said the issue was oversubscribed two times, with strong participation from domestic and foreign institutional investors

IndiGrid Infrastructure Trust on Friday said it has raised ₹1,500 crore through an Institutional Placement issue amid widespread investor participation from existing and new investors.

The institutional placement issue, launched on January 19, was oversubscribed two times, a statement said.

As many as 10 insurance companies and six mutual funds participated, with overall domestic institutional investors' and foreign institutional investors' contributions at 78 per cent and 12 per cent, respectively.

This fundraiser follows IndiGrid's preferential issue of ₹438 crore completed in November 2025.

With the completion of this institutional placement, IndiGrid has raised a total of ₹1,938 crore in equity capital during the fiscal year 2025-26, reflecting a calibrated, phased approach to capital raising.

 

Post issuance, IndiGrid's net debt-to-AUM will be 57 per cent, providing a growth runway of up to ₹45,000 crore in Assets Under Management (AUM) while remaining within the leverage cap of 70 per cent.

"We are grateful to our unitholders for their continued confidence in IndiGrid. This capital raise strengthens our balance sheet and allows us to pursue growth opportunities in a disciplined manner, with every investment decision anchored in long-term value creation and unitholder returns," said Harsh Shah, Managing Director of IndiGrid.

The Board of Directors of IndiGrid Investment Managers Ltd, acting in the capacity of investment manager of IndiGrid, approved the issuance and allotment of around 9.20 crore new units at a price of ₹163 per unit through this institutional placement on January 22, 2026.

Axis Capital Ltd, Ambit Pvt Ltd, Avendus Capital Pvt Ltd, NovaaOne Capital Pvt Ltd, and SBI Capital Markets Ltd acted as Book Running Lead Managers to the issue. AZB & Partners and Hogan Lovells (Middle East) LLP acted as legal advisors.