IndiGrid raises Rs1000cr through issue of NCDs; Stock trades flat

The Infrastructure Investment Trust allotted 1cr non-convertible debt securities) having a face value of Rs1,000 each.

May 07, 2021 10:05 IST India Infoline News Service

IT Stocks Up
India Grid Trust (IndiGrid) on Thursday said it has raised Rs1,000cr through the issuance of non-convertible debt securities (NCDs).

“A meeting of the Allotment Committee of the board of directors of IndiGrid Investment Managers Ltd acting in the capacity of Investment Manager to India Grid Trust (IndiGrid) was held on May 6, 2021, wherein the Allotment Committee inter-alia considered and approved the allotment of 1,00,00,000 secured, listed, rated, redeemable, non-convertible debt securities (NCDs) having a face value of Rs1,000 each aggregating to Rs1,000cr,” company said in a regulatory filing on Thursday.

The NCDs are proposed to be listed on BSE Limited and National Stock Exchange of India Limited, Infrastructure Investment Trust in power sector, added.

The company had kept the base size of the issue at Rs100cr with an option to retain oversubscription of up to Rs900cr. The issue had been rated AAA with a stable outlook by Crisil Ltd and India Ratings, which is the highest rating for an investment instrument.

At around 10.59 am, India Grid Trust was trading at Rs126.94 per piece up Rs 0.39  or 0.31% from its previous closing of Rs126.45 per piece on the BSE.

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