IndiGrid plans to raise Rs 10 billion for acquisitions

The India Grid Trust (IndiGrid) is planning to raise Rs 10 billion via NCDs to finance acquisitions and repayment of existing debt. IndiGrid has announced the acquisition of 100 per cent stake in ReNew Solar Urja Private Limited. The deal is expected to be valued at Rs 16.5 billion, subject to regulatory approvals and closing adjustments. This includes a debt of Rs 10 billion-Rs 11 billion at the asset level. The pending consideration amount will be funded through debt.