IndiGrid Raises INR 1,500 Crore via Institutional Placement to Fuel Energy Infra Growth

IndiGrid has successfully raised INR 1,500 crore through an Institutional Placement (IP) in line with SEBI regulations.

Launched on January 19, the IP issue was oversubscribed by nearly two times and attracted strong participation from both existing and new long-only domestic and global institutional investors. The placement saw participation from 10 insurance companies and six mutual funds, with domestic institutional investors accounting for 78 percent of the total demand and foreign institutional investors contributing 12 percent.

This fundraising follows IndiGrid’s preferential issue of INR 438 crore completed in November 2025. With the completion of the IP, IndiGrid has raised a total equity capital of INR 1,938 crore in FY2025–26, reflecting a calibrated and phased capital-raising strategy. Post issuance, IndiGrid’s net debt-to-AUM ratio stands at approximately 57 percent, providing headroom to scale Assets Under Management (AUM) up to around INR 45,000 crore while remaining within the regulatory leverage cap of 70 percent.

IndiGrid continues to strengthen its diversified growth pipeline across power transmission, renewable energy and energy storage. Currently, nine projects are under construction across IndiGrid and its sponsored development platform, EnerGrid, involving a total capital expenditure of about INR 7,500 crore.

During the year, the InvIT also announced definitive agreements to acquire Gadag Transmission Limited from ReNew Power, expected to close within the current fiscal, and the under-construction NERES XVI Power Transmission Limited project from Techno Electric, post commissioning.

Commenting on the fundraise, Harsh Shah, Managing Director of IndiGrid, said the capital infusion enhances the platform’s financial strength and enables disciplined pursuit of growth opportunities focused on long-term value creation and unitholder returns.

The Board of Directors of IndiGrid Investment Managers Limited approved the allotment of approximately 9.20 crore new units at INR 163 per unit on January 22, 2026. Axis Capital, Ambit, Avendus Capital, NovaaOne Capital and SBI Capital Markets acted as book-running lead managers to the issue, with AZB & Partners and Hogan Lovells (Middle East) LLP serving as legal advisors.