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India Grid Trust (IndiGrid), an infrastructure investment trust controlled by private equity firm KKR, has struck a deal with US-listed green energy firm ReNew Power ..
The Board of Directors of IndiGrid Investment Managers acting in the capacity of investment manager of IndiGrid, approved the issuance and allotment of 5.27 crore new units through the institutional placement to 11 eligible investors on December 8, 2023. More than 90% of incremental units were issued to insurance companies, mutual funds, pension funds, and domestic institutions.
At present, SPTL is demerging its operations into two businesses. One part will house the infrastructure division that develops and operates power transmission assets on a build-operate-transfer (BOT) basis.
GIC will be deploying $500 million in the infrastructure business for a 49% stake. The investment will take place in tranches, with an initial $100 million and $400 million to come in over the next two to three years on a need-to-draw down basis. This will be linked to Sterlite Power winning transmission project tenders and planned capex.