IndiGrid Raises Rs 1,140 Crore Via Bonds

Updated on: 21 April 2023 4:54 pm

The revenue of D2C brands in FY2022 stood at $4 billion (around Rs 32,830 crore) and the addressable market size in 2025 is predicted at USD 100 billion+, said the report

D2C Ecosystem At An Inflection Point Of Rapid Growth In India: Report Photo: The revenue of D2C brands in FY2022 stood at $4 billion (around Rs 32,830 crore) and the addressable market size "in 2025 is predicted at USD 100 billion+," said the report

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.

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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 viability of innovative market financing to meet sustainable development goals," said Isabel Chatterton, IFC's Regional Industry Director for Infrastructure Asia and the Pacific.