IndiGrid plans to raise Rs 10 billion for acquisitions

India Grid Trust (IndiGrid) is planning to raise Rs 10 billion via non-convertible debentures (NCDs) to finance acquisitions and repayment of existing debt. IndiGrid has announced the acquisition of 100 per cent of ReNew Solar Urja Private Limited (RSUPL). The deal is expected to be valued at Rs 16.50 billion, subject to regulatory approvals and closing adjustments. This includes the debt of around Rs 10-11 billion present at asset level. The pending consideration amount is to be funded through debt.