IndiGrid unitholders approve move to raise Rs 695 cr via preferential issue

Infrastructure investment trust India Grid Trust on Thursday said it has received unitholders approval to raise up to Rs 695 crore through a preferential issue.

During an extraordinary meeting held on Thursday, the unitholders gave their go-ahead for "issuance of units on a preferential basis for an aggregate consideration of up to Rs 695 crore", according to a regulatory filing.

IndiGrid is India's first and largest Infrastructure Investment Trust (InvIT) in the power transmission sector. It owns, operates, and manages power transmission networks and renewable energy assets that deliver reliable power throughout India.

As per its website, its assets under management (AUM) stand at Rs 29,255 crore. It has 22,550 MVA electricity transformation capacity.