Mumbai: IndiGrid [BSE: 540565 | NSE: INDIGRID], India’s first and largest publicly listed power sector Infrastructure Investment Trust (InvIT), today announced that it has successfully raised INR 1,500 crore through an Institutional Placement (IP) process, in accordance with SEBI regulations. The IP process, launched on 19thJanuary, was oversubscribed ~2x, and saw widespread investor participation from existing and new long-only domestic and global institutional investors. 10 insurance companies and 6 mutual funds participated with overall domestic institutional investors and foreign institutional investors contributions being at 78% and 12% respectively.
This fund raise follows IndiGrid’s preferential issue of INR 438 crore completed in November 2025. With the completion of this IP, IndiGrid has raised a total equity capital of INR 1,938 crore during the fiscal FY2025-26, reflecting a calibrated and phased approach to capital raising. Post the issuance, IndiGrid’s net debt to AUM will be ~57% which will provide a growth runway of up to ~INR 45,000 crore of Assets Under Management (AUM), while being within the leverage cap of 70%.
IndiGrid continues to build a strong and diversified growth pipeline across transmission, renewables and energy storage. As on date, the platform has nine projects under construction across IndiGrid and its sponsored development platform, EnerGrid, with total capital expenditure of ~INR 7,500 crores. Furthermore, during the year, IndiGrid announced the signing of definitive agreements for the acquisition of Gadag Transmission Limited (GTL) from ReNew Power, with the transaction expected to be consummated within the current fiscal, as well as for the acquisition of the under-construction NERES XVI Power Transmission Limited (NPTL) project from Techno Electric, post its commissioning.
In addition to the committed pipeline, IndiGrid and EnerGrid continue to evaluate operational acquisition and greenfield opportunities, respectively, that align with their overall risk-return framework within the energy sector.
Harsh Shah, Managing Director of IndiGrid, said: “We are grateful to our unitholders for their continued confidence in IndiGrid. This capital raise strengthens our balance sheet and allows us to pursue growth opportunities in a disciplined manner, with every investment decision anchored in long-term value creation and unitholder returns.”
The Board of Directors of IndiGrid Investment Managers Limited (the “IM Board”), acting in the capacity of investment manager of IndiGrid, approved the issuance and allotment of ~9.20 crore new units at a price of INR 163 per unit through this Institutional Placement on January 22nd, 2026.
Axis Capital Limited, Ambit Private Limited, Avendus Capital Private Limited, NovaaOne Capital Private Limited, and SBI Capital Markets Limited acted as Book Running Lead Managers to the issue. AZB & Partners and Hogan Lovells (Middle East) LLP acted as legal advisors.
