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 On | 06 April 2021 |
| Bid/Offer Closes On | 13 April 2021 |
| Record Date | 30 March 2021 |
| Deemed Date of Allotment | 20 April 2021 |
| Renunciation of Rights Entitlements | 08 April 2021 |
India Grid Trust Rights Issue Detail
| Issue Open | Apr 6, 2021 – Apr 13, 2021 |
| Security Name | India Grid Trust |
| Issue Size (Shares) | 11.67 Crores |
| Issue Size (Amount) | ₹1,283.65 Crores |
| Issue Price | ₹110 per share |
| Market Lot | 1701 per share |
| Listing At | BSE, NSE |
| Terms of Payment | The full amount of Rs 110 per Unit shall be payable on the Application. |
| Entitlement | 1 Lot for every 5 Lots held by the Eligible Unitholders on Record Date. (1 lot=1701 units) |
Company Financials
| Particulars | For the year/period ended (Rs. in Millions) | ||
|---|---|---|---|
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Assets | 1,17,920.19 | 53,462.26 | 53,786.94 |
| Total Revenue | 12,785.94 | 6,739.05 | 4,605.00 |
| Profit After Tax | 5,057.20 | 1,539.14 | 2,103.50 |
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
Email: indigrid.rights@kfintech.com
Website: https://karisma.kfintech.com/
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
Email: complianceofficer@indigrid.co.in
Website: https://www.indigrid.co.in/
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