India Grid Trust to Raise Rs 695 Crore Via Preferential Issue

India Grid Trust has received approval from its unitholders to raise up to Rs 695 crore through a preferential issue. The decision was made during an extraordinary meeting. India's first and largest Infrastructure Investment Trust, IndiGrid, manages power transmission networks and renewable energy assets nationwide, with Rs 29,255 crore in assets under management.

India Grid Trust, India's first and largest Infrastructure Investment Trust (InvIT) in the power transmission sector, announced on Thursday that it has secured unitholders' approval to raise up to Rs 695 crore through a preferential issue.

The decision was reached during an extraordinary meeting, according to a regulatory filing by the trust. The unitholders approved the issuance of units on a preferential basis, with an aggregate consideration of up to Rs 695 crore.

IndiGrid, which operates and manages power transmission networks and renewable energy assets across India, boasts assets under management valued at Rs 29,255 crore and a 22,550 MVA electricity transformation capacity, according to information on its website.

(With inputs from agencies.)