Indigrid

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

IndiGrid Q1 profit down 5% to Rs 81 crore; income rises to Rs 564 crore

Total income rose to Rs 564.99 crore in the quarter from Rs 367.45 crore in the same period a year ago

IndiGrid acquires 100 MW solar assets from FRV for Rs 660 crore

Infrastructure investment trust IndiGrid said it has completed the acquisition of entire stake in two solar energy assets from FRV at an enterprise value of Rs 660 crore

IndiGrid March-quarter net down 31% to Rs 69 crore due to acquisitions

Infrastructure investment trust IndiGrid on Thursday reported a 31 per cent drop in consolidated net profit at Rs 68.69 crore for the March quarter, impacted by expenditure on acquisitions.

Betting on power: Insurers line up to invest in PGCIL and IndiGrid InvITs

The first power transmission InvIT of the country, IndiGrid, came out with a public issue of NCDs to raise up to Rs 1,000 crore last week

Power Grid launches PGInvIT, could offer 18 more assets in future

Sets price band at Rs 99-100 per unit for the public offer

IndiGrid to raise equity via rights issue, use funds for expansion

County's first listed infrastructure investment trust aims to acquire Rs 8,000 crore worth of assets: CEO

Infra investment trust IndiGrid plans to raise up to Rs 5,300 cr

A meeting of the board of directors of IndiGrid Investment Managers Ltd acting in the capacity of Investment Manager to IndiGrid was held on Tuesday

Stocks to watch: Aarti Drugs, Adani Ports, PVR, IndiGrid, Just Dial

Multiplex major PVR plans to invest Rs 150 crore to open up to 40 screens across the country in the next fiscal

IndiGrid to buy NER II Transmission from Sterlite Power for Rs 4,625 cr

Investment trust IndiGrid on Friday inked an agreement to acquire 100 per cent equity stake in NER II Transmission

IndiGrid inks pact to acquire 74% stake in Parbati Koldam from Reliance Infra

India Grid Trust on Saturday said that it has inked an agreement to acquire 74 per cent stake in Parbati Koldam TransmissionCompanyfrom Reliance Infrastructure. "India Grid Trust has signed sharepurchase agreement on November 28th, 2020 for acquisition of 74 per centin Parbati Koldam TransmissionCompany Ltd(PKTCL) from Reliance Infrastructure Ltd," a BSE filing said. The completion of acquisition would dependupon receipt of relevant approvals and completion of contractual obligations, it added. According to filing, the implied enterprise value (for 100% equity shares) is Rs900 croreinclusive of cash & cash reserves andnormalised tariff receivables, subject to adjustments on account of movement in cash, deviation in outstandingdebt, tariff receivables, assets, liabilities outstanding. PKTCL was incorporated on September 2, 2002. PKTCLis joint venture between Reliance Infrastructure Limited (74%) and Power Grid Corporation of India Limited(26%). PKTCL operates 458 circuitkilometres

IndiGrid unitholders approve KKR as InvIT sponsor with special majority

The PE firm, which earlier withdrew intent to become a sponsor in August, made a fresh application again this month

KPTL, JV partner complete 74% equity stake sale in JKTPL to IndiGrid

Kalpataru Power Transmission Ltd (KPTL) on Monday said the firm and its joint venture partner have completed 74 per cent equity stake sale in Jhajjar KT Transco Pvt Ltd (JKTPL) to IndiGrid. "We are pleased to inform you that the Parties have today completed the sale of first closing sale shares, which represents about 74 per cent of the total equity shares of the JKTPL after obtaining the requisite regulatory and other approvals and compliance with condition precedents," according to a BSE filing. KPTL has completed sale of about 37.78 per cent of equity shares (which includes 1.32 per cent equity shares held by KVPL and acquired by the Company), the filing added. Earlier in May this year, KPTL had announced that it would sell the joint venture at an enterprise value of Rs 310 crore. The KPTL held 49.72 per cent, Klassik Vinyl Products LLP (KVPL) held 1.32 per cent and Techno Electric & Engineering Company Ltd (Techno) held balance 48.96 per cent equity in JKTPL. The sale of ...