Indigrid

IndiGrid Q2 results: Net profit increses nearly 154% to Rs 98 crore

Infrastructure investment trust India Grid Trust on Friday posted a 154 per cent jump in its consolidated net profit to Rs 98.73 crore for the September 2024 quarter on the back of higher revenues. Its consolidated net profit was Rs 38.89 crore in the year-ago quarter, a BSE filing showed. The total income rose to Rs 839.75 crore in the quarter from Rs 720.18 crore a year ago. The Board of Directors (Board) of IndiGrid Investment Managers Ltd (IIML) acting in the capacity of the investment manager to India Grid Trust (IndiGrid) also approved the declaration of Q2 FY25 distribution of Rs 3.75 per unit, comprising Rs 3.61763 per unit in the form of interest, Rs 0.11357 per unit in the form of dividend and Rs 0.01880 in the form of other income. The record date for this distribution will be October 30, 2024, and the payment will be made on or before November 9, 2024. The board has also approved the name change of India Grid Trust to 'IndiGrid Infrastructure Trust', along with ...

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.

IndiGrid Q1 results: Net profit rises 28% to Rs 137 cr on higher income

Investment Manager to India Grid Trust (IndiGrid) on Wednesday posted a 28 per cent increase in net profit to Rs 136.9 crore during the June quarter, helped by higher income. It had clocked Rs 107 crore profit in the year-ago period, the company said in a statement. Its total income rose to Rs 873.3 crore during the first quarter of the ongoing fiscal year from Rs 654.5 crore a year earlier. Expenses were at Rs 727.2 crore as against Rs 539.7 crore a year ago.

IndiGrid acquires solar power plant at an enterprise value of Rs 1,550 cr

Infrastructure investment trust IndiaGrid on Friday said it has completed the acquisition of 300 MW solar project at an enterprise value of Rs 1,550 crore. With this asset addition, IndiGrid's portfolio now consists of 19 solar projects across eight states of the country with a total generation capacity of 1.1 GWp. IndiGrid's total Assets Under Management now stands at Rs 28,200 crore, an IndiGrid statement said. "IndiGrid, India's first and largest listed power sector infrastructure investment trust (InvIT), today announced that it has consummated transaction of 300 MW AC solar asset for an enterprise valuation of around Rs 15,500 million, exclusive of net working capital and cash adjustments, in line with the share purchase agreement that was signed in January 2024," it said. This acquisition has been funded through a combination of equity, internal accruals, and debt and will add Rs 80 crore of net distributable cash flow, to IndiGrid, every year. The net debt/AUM will be 63 pe

IndiGrid Q3 results: Profit down 23% to Rs 91 cr, income rises to Rs 788 cr

India Grid Trust (IndiGrid) on Thursday reported 23 per cent decline in consolidated net profit at Rs 91.92 crore. Net profit of the infrastructure investment trust in the year-ago period was Rs 119.78 crore, a BSE filing said. Total income increased to Rs 788.36 crore in the quarter from Rs 607.06 crore in the same period a year ago. Total expenses also rose to Rs 691.14 crore from Rs 480.03 crore. The board of directors of IndiGrid Investment Managers Ltd (IIML) acting in the capacity of Investment Manager to IndiGrid approved distribution of Rs 3.55 per unit for the third quarter. The record date for this distribution is January 31, 2024, and payment will be made on or before February 9, 2024. "This has been an exciting quarter for us. While we continued to make great strides in our business adjacencies with greenfield project wins and the solar asset acquisition, we also ensured that the company maintains a strong balance sheet and has ample headroom for consistent growth," Ha

ReNew inks pact to sell 300 MW solar project to IndiGrid for $199 mn

Decarbonisation solutions firm ReNew on Monday said it has inked an agreement to sell a 300 MW solar project to India Grid Trust for USD 199 million. The transaction is likely to close in accordance with PPA (power purchase agreement) conditions, a company statement said. Approximately USD 8 million is expected to be additionally received as an earn-out on account of change-in-law proceeds after the first payment is realised by RSUPL (ReNew Solar Urja Private Limited). According to the statement, ReNew has signed a share purchase agreement with India Grid Trust to sell a 300 MW solar project in Rajasthan ReNew Solar Urja Private Limited - for a total enterprise value of USD 199 million. The sale reaffirms strong investor interest in assets developed by ReNew and is aligned with the company's strategy to enhance shareholder value through capital recycling and investment into higher-return opportunities, it added. After the transfer of the outstanding debt to the buyer, the transac

IndiGrid completes acquisition of Virescent Renewable Energy Trust

Infrastructure investment trust India Grid Trust on Friday said it has completed the acquisition of Virescent Renewable Energy Trust (VRET). India Grid Trust said the enterprise value is not exceeding Rs 4,000 crore, subject to all other closing adjustments as specified in the definitive documents. "India Grid Trust (IndiGrid) has completed the acquisition of 100 per cent units of Virescent Renewable Energy Trust on August 25," it said in a BSE filing. VRET is a Sebi-registered infrastructure investment trust set up on February 25, 2021 as per provisions of the InvIT Regulations. A total of 16 solar projects with a capacity of 538 MWp will be added to the IndiGrid portfolio following the acquisition. This will push up IndiGrid's Assets Under Management (AUM) to about Rs 27,000 crore and the overall solar capacity to 676 MWp comprising approximately 17 per cent of its assets under management. The units of VRET are issued on a private placement basis and are listed on the NSE since

India Grid Trust net profit rises by 29% to Rs 107 cr in June quarter

India Grid Trust (IndiGrid) on Friday reported over 29 per cent rise in consolidated net profit to Rs 107.18 crore in the June 2023 quarter, helped by higher income. It had posted a consolidated net profit of Rs 83.07 crore in the same period of 2022-23, the company said in a regulatory filing on Friday. The total income increased to Rs 654.53 crore from Rs 586.46 crore in the year-ago quarter. The Board of Directors of IndiGrid Investment Managers Ltd (IIML) acting in the capacity of Investment Manager to India Grid Trust approved the declaration of Q1 FY24 distribution of Rs 3.45 per unit comprising Rs 3.1759 per unit in the form of interest, Rs 0.0611 per unit in the form of dividend, Rs 0.2010 per unit in the form of principal payment and Rs 0.0120 in the form of other income. The record date for this distribution will be August 3, 2023, and payment will be made on or before August 12, 2023.

IndiGrid to raise Rs 27.5 billion for acquisition, refinancing old debt

Will raise Rs 15 bn in equity; Bond offering Rs 12.5 bn

IndiGrid net profit rises 37% YoY to Rs 137 crore in Jan-Mar quarter

Infrastructure investment trust India Grid Trust on Friday posted a 37.4 per cent rise in its consolidated net profit to Rs 137.12 crore in the January-March 2023 quarter compared to a year ago, on the back of higher revenues. The consolidated net profit of the company was Rs 99.80 crore in the quarter ended on March 31, 2022, a BSE filing showed. On a year-on-year basis, the consolidated revenue for the quarter was up 9 per cent to Rs 598.9 crore, the company said in a statement. IndiGrid ended the quarter with an AUM (assets under management) of Rs 22,800 crore and a net debt to AUM of 59.5 per cent, leaving significant debt headroom for further growth. The Board of the Investment Manager approved a Distribution Per Unit (DPU) of Rs 3.45 for Q4 FY23, closing the year ahead of the DPU guidance of Rs 3.30 per quarter. The record date for the distribution is May 18, 2023, and shall be paid as Rs 2.53 per unit in form of interest, Rs 0.29 per unit in form of dividend, Rs 0.58 per un

India Grid Trust to consider raising of debt through various sources

The outcome of the board meeting will be communicated to the stock exchanges after conclusion of the board meeting on May 12, 2023

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

India Grid Trust on Thursday said it has raised Rs 1,140 crore through long-term non-convertible debentures from International Finance Corporation. India Grid Trust (IndiGrid) is the first infrastructure investment trust in the power transmission sector. India Grid Trust has announced that IFC (International Finance Corporation) has subscribed to a listed NCD (non-convertible debenture) issuance of IndiGrid, aggregating to Rs 1,140 crore, according to a statement. With a total tenure of 18 years, the NCDs were priced at a competitive rate that is fixed for a long tenure. The company plans to utilise this debt for funding its upcoming refinancing opportunities in FY24, it added. "This long-term financing from IFC is in alignment with IndiGrid's strategy aimed at ensuring a robust balance sheet," Harsh Shah, Chief Executive Officer of IndiGrid, said in the statement. "Our support will help expand and diversify capital sources for critical power infrastructure, demonstrating the ...

Infrastructure investment trust IndiGrid Q3 profit up 27% to Rs 120 crore

India Grid Trust (IndiGrid) has posted 27 per cent rise in consolidated net profit at Rs 119.78 crore for December quarter 2022-23. The infrastructure investment trust logged a net profit of Rs 94.38 crore in the year-ago period, as per a BSE filing. Total income also increased to Rs 607.06 crore in the quarter from Rs 580.96 crore in the same period a year ago. Board of Directors of IndiGrid Investment Managers Limited (IIML), acting in the capacity of investment manager to IndiGrid, on Wednesday approved distribution of Rs 3.30 per unit comprising Rs 2.8042 per unit in the form of interest and Rs 0.4958 per unit in the form of principal payment for the quarter. The record date for this distribution will be January 31, 2023, and payment will be made on or before February 9, 2023. The board also approved a proposal for raising debt up to Rs 3,700 crore for refinancing opportunities through various sources including term loans, non-convertible debentures, among others. "We have ..

IndiGrid to acquire 100% stake in Khargone Transmission for Rs 1497 crore

India Grid Trust (IndiGrid) will acquire a 100 per equity stake in Khargone Transmission at an enterprise value of about Rs 1,497.5 crore. The acquisition will be for a cash consideration of an enterprise value not exceeding Rs 1,497. 5 crore, according to a BSE filing. IndiGrid signed a share purchase agreement on January 21, 2023, for the acquisition of a 100 per cent shareholding and economic interest, in one or more tranches, in Khargone Transmission Ltd from Sterlite Power Transmission Ltd (one of the Sponsor of IndiGrid), it stated. The completion of the acquisition would depend upon receipt of Unitholders'' consent, regulatory and other relevant approvals as well as completion of contractual obligations, it explained. The Khargone Transmission was incorporated on November 28, 2015. The transmission project was awarded by the Ministry of Power for a 35-year period from the scheduled commercial operation date, on a BOOM basis. The project has 6 elements. The project has one

IndiGrid, G R Infraprojects partner for transmission bids worth Rs 5,000 cr

Infrastructure investment trust India Grid Trust and G R Infraprojects have joined hands to bid for identified power transmission projects worth Rs 5,000 crore. "India Grid Trust (IndiGrid), India's first listed power sector infrastructure investment trust (InvIT) and G R Infraprojects Ltd (GRIL), one of India's leading players in Infrastructure sector, have announced a strategic partnership in the Indian power transmission sector," an IndiGrid statement said. An agreement has been signed to jointly bid for identified TBCB (Tariff Based Competitive Bidding) transmission projects aggregating to approximately Rs 5,000 crore, it stated. The power ministry has recently unveiled a plan for investment of Rs 2,50,000 crore in building transmission infrastructure for meeting the vision of 500 GW of renewable energy capacity by 2030 to meet its energy transition goal. There is a meaningful opportunity for private sector to participate in the journey of energy transition and shape the future

IndiGrid Q2 profit nearly doubles to Rs 126 cr aided by higher revenues

India Grid Trust (IndiGrid) on Thursday said its consolidated net profit almost doubled to Rs 125.79 crore in the September quarter, aided by higher revenues. The consolidated net profit of the company stood at Rs 68.17 crore in the quarter ended September 30, 2021, as per a BSE filing. Total income of the company rose to Rs 595.91 crore in the quarter from Rs 559.97 crore in the same period a year ago. The board of directors of IndiGrid Investment Managers Ltd (IIML), acting in the capacity of investment manager to India Grid Trust, approved declaration of Q2FY23 distribution of Rs 3.30 per unit -- comprising Rs 3.1137 per unit in the form of interest and Rs 0.18630 per unit in the form of principal payment. The record date for this distribution will be November 16, 2022, and payment will be made on or before November 25, 2022, it said. The board also approved raising debt funding of up to Rs 1,550 crore through various sources, including term loans, non-convertible debentures an

IndiGrid, Brookfield show interest in buying 2 transmission projects

Joint venture projects by Sterlite Power Transmission Ltd and Australia-based AMP Capital worth Rs 3,500-4,000 cr

Investment trust IndiGrid net profit in March qtr jumps 45% to Rs 99.80 cr

Infrastructure investment trust IndiGrid has posted over 45 per cent rise in its consolidated net profit at Rs 99.80 crore in the March quarter, mainly on the back of higher revenues.

IndiGrid get Letter of Intent for transmission project in Maharashtra

Infrastructure investment trust IndiGrid has received Letter of Intent (LoI) from REC Power Development and Consultancy Ltd (REC) to establish a transmission system for evacuation of power from renewable energy projects in Osmanabad area in Maharashtra, a statement said. This project is envisaged on build, own, operate and maintain (BOOM) basis for a period of 35 years through tariff based competitive bidding (TBCB), the statement said. The project, with a planned outlay of Rs 170 crore, will consist of one substation of 2 x 500 MVA, 400/220 kV near Kallam and 10 Bays with a LILO multi circuit line of 18 kms. The project will strengthen the transmission system in Maharashtra by improving the grid availability for evacuation & integration of renewable energy in the state. The project is situated in a low-risk plain topography and is proposed to be completed over the next 15-18 months.

IndiGrid consortium lowest bidder for Rs 170 cr transmission project

A consortium of Infrastructure investment trust IndiGrid's arms has emerged as the lowest bidder for a power transmission project worth Rs 170 crore in tariff-based bidding