India Grid Rights Issue

India Grid Rights Issue (IndiGrid) Details

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India Grid Rights Issue open for subscription from 06 April 2021 to 13 April 2021. the company aims for an issue size of ₹1,283.65 Crores through this Rights issue.

India Grid Trust

IndiGrid (India Grid Trust) is India’s first listed power sector infrastructure investment trust, sponsored by the KKR Sponsor and the Sterlite Sponsor. It was established in October 2016 and is registered with SEBI under the InvIT Regulations. IndiGrid was established to own and operate power transmission and renewable energy assets in India.

Objects of the Issue

  • Acquisition of 26% of the issued, subscribed, and paid-up equity share capital of NER (NER II Transmission Limited), either directly or indirectly from the Sterlite Sponsor.
  • Partial repayment of the outstanding external debt of OGPTL (Odisha Generation Phase – II Transmission Limited) and GPTL (Gurgaon Palwal Transmission Limited) and debt proposed to be availed by IndiGrid.
  • General corporate purposes.

India Grid Trust Rights Issue Issue Timetable

Bid/Offer Opens On06 April 2021
Bid/Offer Closes On13 April 2021
Record Date30 March 2021
Deemed Date of Allotment20 April 2021
Renunciation of Rights Entitlements08 April 2021

India Grid Trust Rights Issue Detail

Issue OpenApr 6, 2021 – Apr 13, 2021
Security NameIndia Grid Trust
Issue Size (Shares)11.67 Crores
Issue Size (Amount)₹1,283.65 Crores
Issue Price₹110 per share
Market Lot1701 per share
Listing AtBSE, NSE
Terms of PaymentThe full amount of Rs 110 per Unit shall be payable on the Application.
Entitlement1 Lot for every 5 Lots held by the Eligible Unitholders on Record Date. (1 lot=1701 units)

Company Financials

ParticularsFor the year/period ended (Rs. in Millions)
Total Assets1,17,920.1953,462.2653,786.94
Total Revenue12,785.946,739.054,605.00
Profit After Tax5,057.201,539.142,103.50

Rights Issue Registrar

KFintech Private Limited
Selenium Building, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Serilingampally,
Rangareddi, Telangana India – 500 032.

Phone: 1-800-3454001

Company Contact Information

India Grid Trust
Unit No. 101, First Floor, Windsor,
Village KoleKalyan, Off CST Road, Vidyanagari Marg
Kalina, Santacruz East, Mumbai 400098
Phone: +91-7208493885

Final Thoughts

Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.

Happy investing

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