With this acquisition, IndiGrid's AUM (Asset Under Management) increased 34 per cent to Rs 20,000 crore. This is the largest single asset deal in the Indian Transmission sector. In March 2021, IndiGrid InvIT acquired NER-II Transmission Ltd from Sterlite Power at an enterprise value of Rs 4,625 crore. In December 2020, IndiGrid Trust entered into an agreement to acquire 100% stake in FRV Andhra Pradesh Solar Farm-I Pvt. Taking this into consideration, an acquisition of 74% of shares should translate into a deal value of Rs 666 crore (US$90 million). The enterprise value of the transmission asset was around Rs 900 crore (US$121.6 million).
from Anil Ambani group's Reliance Infrastructure Ltd. In November 2020, IndiGrid signed a share purchase agreement to acquire 74% stake in Parbati Koldam Transmission Co.
ĭuring the same time (August 2020), IndiGrid acquired another power transmission asset – Gurgaon Palwal Transmission (GPTL) project at an enterprise value of around Rs 1,080 crore. In May 2020, IndiGrid signed an agreement to acquire 100% stake in a power transmission asset at Jhajjar in Haryana for Rs 310 crore from current owners Kalpataru Power Transmission and Techno Electric & Engineering Company. In March 2020, IndiGrid completed the acquisition of its ninth transmission asset from Sterlite Power at a value of US$134 million or Rs 1,020 crore, with the acquisition of East-North Interconnection (ENICL). These two assets are NRSS XXIX Transmission (NTL) and Odisha Generation Phase-II Transmission (OGPTL). In July 2019, IndiGrid completed the acquisition of two power transmission assets from Sterlite Power for an enterprise value of Rs 5,025 crore. This was IndiGrid's first investment in a third-party asset. In September 2018, IndiGrid completed the Rs 232-crore investment in Patran Transmission Company (PTCL). The assets were Purulia & Kharagpur Transmission Company Limited, RAPP Transmission Company Limited and Maheshwaram Transmission Limited. In February 2018, IndiGrid completed the acquisition of 3 transmission assets from its sponsor Sterlite Power Grid Ventures Ltd for Rs 1,410 crore. In June 2017, IndiGrid was listed on Indian Stock Exchanges with two Initial Portfolio Assets with AUM of INR 38 billion - Bhopal Dhule Transmission Company Limited and Jabalpur Transmission Company Limited, with a total network of 8 transmission lines of around 1,936 ckms and 2 substations of 6,000 mva capacity across 4 states. The rights issue price has been fixed at ₹110 per unit. In March 2021, IndiGrid raised equity capital of INR 1,284 crs by way of Rights Issue to maintain leverage headroom and fund future acquisitions. In December 2020, IndiGrid announced a multi-year collaboration agreement with IBM to build an artificial intelligence (AI)-enabled asset management platform. In September 2020, IndiGrid unitholders approved induction of global investment firm KKR's associate Esoteric II as a sponsor with special majority (> 75 per cent voting). In May 2019, IndiGrid raised over ₹ 2500 cr of primary capital through preferential issue allotment to KKR, GIC (23 & 20% stake respectively) and other eligible capital market investors. Before the opening of IPO, IndiGrid had raised over Rs 1,012 crore from anchor investors such as Deutsche Global Infrastructure Fund, Credit Suisse ( Singapore), Reliance Nippon Life Insurance Company, Copthall Mauritius Investment and Edelweiss Tokio Life Insurance Company. In June 2017, IndiGrid got listed on BSE, NSE exchanges with two operational projects. It is the first power sector InvIT and the second InvIT to get listed on exchange after IRB InvIT Fund. In May 2017, IndiGrid opened its initial public offer (IPO) to raise ₹2,250. IndiGrid was established with Sterlite Power as its sponsor in October 2016, as per the SEBI InvITs Regulations. In 2014, the Securities and Exchange Board of India (SEBI) introduced Infrastructure Investment Trusts (InvITs) regulations to support growth of infrastructure sector in India.
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