IndiGrid to raise up to Rs 1,000 cr via NCDs

NEW DELHI: Infrastructure IndiGrid on Thursday announced a public issue of non-convertible debt securities to raise up to Rs 1,000 crore.

The issue will open on April 28 and close on May 5, IndiGrid said in a BSE filing.

The allotment committee of the board of directors of IndiGrid Investment Managers Ltd, acting in the capacity of Investment Manager to India Grid Trust (IndiGrid) was held on Thursday (April 22, 2021).

"The Allotment Committee inter-alia considered and approved the public issue of secured, rated, listed, redeemable non-convertible debt securities (NCDs) having a face value of Rs 1,000 each for an amount up to Rs 100 crores (Base Issue Size) with an option to retain over-subscription of up to Rs 900 crore aggregating up to 10,000,000 NCDs amounting to Rs 1,000 crore (Tranche 1 Issue Limit) which is within the shelf limit of Rs 1,000 crore."

The issue will be open for four different categories of investors, including financial institutions, companies, high net worth individuals and retail investors.