Indigrid Invit

IndiGrid to acquire 300 MW solar project, transmission asset for ₹2,108 cr

IndiGrid on Saturday said it will acquire ReNew Solar Aayan, a 300 MW (AC) solar project, and Koppal Narendra Transmission in two separate transactions for about Rs 2,108 crore. Inclusive of the adjustments, the enterprise value will not exceed Rs 2,175 crore, a statement said. IndiGrid announced the execution of definitive agreements to acquire one solar and one transmission asset, aggregating to an enterprise value of approximately Rs 2,108 crore, excluding any net working capital and cash adjustments, it added. The solar asset, Renew Solar Aayan Private Ltd (RSAPL), is a 300 MW (AC) operational project located in Barmer, Rajasthan, a region known for high solar irradiation. The project has been operational since March 2024 and benefits from a long-term 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) at a fixed tariff of Rs 2.37 per unit. A 100 per cent subsidiary of ReNew Solar Power Private Limited, RSAPL's proximity to RSUPL an asset acqu

IndiGrid Investment Managers settles InvIT rule violation case with Sebi

IndiGrid Investment Managers Ltd has settled a probe by markets regulator Sebi in a case pertaining to the alleged violation of infrastructure investment trust (InvIT) rules after paying Rs 23.4 lakh towards settlement charges. The case related to IndiGrid Investment Managers allegedly using funds mobilised through borrowings for purposes other than the acquisition or development of infrastructure projects. The order came after IndiGrid Investment Managers filed a settlement application with Sebi proposing to settle the instant proceedings initiated against it "without admitting or denying the findings of facts and conclusions of law" through a settlement order. After IndiGrid Investment Managers paid the settlement amount, Sebi, in a settlement order passed on Monday, said the "instant adjudication proceedings initiated against the noticee vide SCN (SCN) ...September 21, 2023 is disposed of". The Securities and Exchange Board of India (Sebi) initiated adjudication proceedings ...

IndiGrid Q3 results: Profit down 23% to Rs 91 cr, income rises to Rs 788 cr

India Grid Trust (IndiGrid) on Thursday reported 23 per cent decline in consolidated net profit at Rs 91.92 crore. Net profit of the infrastructure investment trust in the year-ago period was Rs 119.78 crore, a BSE filing said. Total income increased to Rs 788.36 crore in the quarter from Rs 607.06 crore in the same period a year ago. Total expenses also rose to Rs 691.14 crore from Rs 480.03 crore. The board of directors of IndiGrid Investment Managers Ltd (IIML) acting in the capacity of Investment Manager to IndiGrid approved distribution of Rs 3.55 per unit for the third quarter. The record date for this distribution is January 31, 2024, and payment will be made on or before February 9, 2024. "This has been an exciting quarter for us. While we continued to make great strides in our business adjacencies with greenfield project wins and the solar asset acquisition, we also ensured that the company maintains a strong balance sheet and has ample headroom for consistent growth," Ha

IndiGrid completes acquisition of Virescent Renewable Energy Trust

Infrastructure investment trust India Grid Trust on Friday said it has completed the acquisition of Virescent Renewable Energy Trust (VRET). India Grid Trust said the enterprise value is not exceeding Rs 4,000 crore, subject to all other closing adjustments as specified in the definitive documents. "India Grid Trust (IndiGrid) has completed the acquisition of 100 per cent units of Virescent Renewable Energy Trust on August 25," it said in a BSE filing. VRET is a Sebi-registered infrastructure investment trust set up on February 25, 2021 as per provisions of the InvIT Regulations. A total of 16 solar projects with a capacity of 538 MWp will be added to the IndiGrid portfolio following the acquisition. This will push up IndiGrid's Assets Under Management (AUM) to about Rs 27,000 crore and the overall solar capacity to 676 MWp comprising approximately 17 per cent of its assets under management. The units of VRET are issued on a private placement basis and are listed on the NSE since

Sterlite Power offloads 14.7% stake in IndiGrid for Rs 840 crore

IndiGrid is India's first infrastructure investment trust in the power sector

IndiGrid consolidated Q4 revenue at Rs 1.48 bn, Ebitda at Rs 4.15 bn

IndiGrid is already considering the next set of asset acquisitions from both the sponsor and third parties

InvIT IndiGrid to make first third-party acquisition for Rs 2 billion

To also acquire three assets from Sterlite Power

Power sector's first InvIT IndiGrid acquires 3 more projects at Rs 1,490 cr

The three assets consist of five transmission lines, covering 1,425 kms

Power sector's first InvIT IndiGrid to acquire 4 more projects

IndiGrid reports revenue of Rs 40.57 cr

India Grid Trust's Rs 2,250-cr IPO oversubscribed 1.17 times

It'll become the second infrastructure investment trust to list in the country after IRB InvIT Fund