Company & Business Profile
IndiGrid InvIT Fund is an infrastructure investment trust (“InvIT”) established to own inter-state power transmission assets in India. They are focused on providing stable and sustainable distributions to their Unitholders.
The India Grid Trust (“IndiGrid”) was form on October 21, 2016 by the sponsor, Sterlite Power Grid Ventures Ltd (“SPGVL”) as an irrevocable trust, pursuant to the Trust Deed, under the provisions of the Indian Trusts Act, 1882.
The Investment objectives of IndiGrid are to undertake activity as an infrastructure investment trust in accordance with the provisions of the InvIT Regulations. The investment of IndiGrid shall only be in infrastructure special purpose vehicles or infrastructure projects or securities of Indian companies in accordance with the provisions of the InvIT Regulations and the investment strategy.
Their sponsor is one of the leading independent power transmission companies operating in the private sector and owns 11 inter-state power transmission projects with a total network of 30 power transmission lines of approximately 7,733 ckms and 9 substations having 13,890 MVA of transformation capacity.
Of the 11 inter-state power transmission projects owned by the Sponsor, IndiGrid will initially acquire 2 projects with a total network of 8 power transmission lines of approximately 1,936 ckms and 2 substations having 6,000 MVA of transformation capacity across 4 states (the “Initial Portfolio Assets”).
These Initial Portfolio Assets awarded to subsidiaries of their sponsor under the ‘tariff based competitive bidding’ mechanism (“TBCB”) on a ‘build-own-operate-maintain’ (“BOOM”) basis.
Objects of the Issue:
To provide loan to BDTCL and JTCL for repayment or pre-payment of debt (including any accrued interest and any applicable penalties) of banks, financial institutions, SGL1, SGL2;
2. To repayment of any other long term and short term liabilities and capital expenditure creditors.
The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
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