IndiGrid raises Rs 1,140 cr via NCDs, to use funds for refinancing

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India Grid Trust said on Thursday that it has raised ₹1,140 crore through long-term non-convertible bonds from the International Finance Corporation.

The India Grid Trust (IndiGrid) is the premier infrastructure investment trust in the power transmission sector.

India Grid Trust has announced that IFC (International Finance Corporation) has signed up for an NCD (Non-convertible debenture) issue listed on IndiGrid, totaling Rs 1,140 crore, according to a statement.

With a total period of 18 years, NCDs have been priced competitively and consistently for a long time. She added that the company plans to leverage this debt to fund upcoming refinancing opportunities in FY24.

“This long-term financing from IFC is in line with IndiGrid’s strategy to ensure a strong balance sheet,” IndiGrid CEO Harsh Shah said in the release.

“Our support will help expand and diversify sources of capital for critical energy infrastructure, demonstrating the feasibility of innovative market financing to achieve the SDGs,” said Isabelle Chatterton, IFC’s Regional Infrastructure Industry Director for Asia and the Pacific.

(Only the title and image for this report may have been reworked by the Business Standard staff; the rest of the content is generated automatically from a shared feed.)

First published: April 20 2023 | 8:13 p.m ist