Mumbai, July 28, 2025: IndiGrid Investment Managers Limited, acting as the Investment Manager for IndiGrid Infrastructure Trust, has announced its plan to raise ₹1,900 crore through the issuance of Series AH Non-Convertible Debt Securities (NCDs).
The issuance comes under the borrowing approvals granted by the Board of Directors earlier this year. On January 23, 2025, the board approved borrowings up to ₹7,600 crore, followed by an additional approval of ₹3,200 crore on March 21, 2025. The proposed Series AH issuance is part of this overall borrowing framework.
According to the company, the proceeds from this debt raise will be utilized for strategic purposes, including refinancing of existing obligations and funding expansion initiatives across its power transmission assets. IndiGrid, India’s first listed power sector infrastructure investment trust (InvIT), continues to focus on expanding its asset base and enhancing shareholder value.
The NCDs, being non-convertible, will not dilute existing equity but will add to the trust’s debt profile. The terms, including interest rate and tenure, will be finalized in subsequent filings.
Company Secretary and Compliance Officer Urmil Shah confirmed the development, stating that the proposal aligns with IndiGrid’s growth strategy and prudent capital management practices.
The intimation has also been shared with Axis Trustee Services Limited and IDBI Trusteeship Services Limited, who act as trustees for the debenture holders.
With this fresh capital raise, IndiGrid aims to strengthen its financial position while maintaining steady returns to its unitholders. Further details on the issue, including listing and allotment timelines, are expected to be disclosed soon.
