Mumbai: India Grid Trust (IndiGrid), an infrastructure investment trust (InvIT) sponsored by Sterlite Power Grid Ventures Ltd, will raise ₹2,560 crore of primary capital through a qualified institutional placement that begins today, a person aware of the development told Mint. Of this, private equity investors KKR and GIC will subscribe up to ₹2,060 crore of the issue, the person said. The proceeds of the QIP will be used to acquire transmission assets. IndiGrid recently signed agreements to acquire five transmission assets worth ₹11,500 crore from Sterlite Power, subject to unitholder approval. Additionally, KKR has expressed interest to be a sponsor of IndiGrid alongside Sterlite Power and KKR and Sterlite Power will co-own SIML, the Investment Manager of IndiGrid.

Source: Mint April 30, 2019 10:17 UTC