Mahindra-backed InvIT raises Rs 22.62 billion via initial offer of units

The Sustainable Energy Infra Trust (SEIT), an infrastructure investment trust (InvIT) backed by the Mahindra Group and the Ontario Teachers’ Pension Plan Board (OTPP), has successfully raised Rs 22.62 billion through an initial offer of its units. It has raised Rs 13.65 billion ($165 million) from global and Indian investors such as the Asian Infrastructure Investment Bank (AIIB). As part of the offer, Mahindra Susten Private Limited, Mahindra’s renewables company, has raised Rs 8.97 billion ($ 108 million).