AIMCo and HDFC Life to Invest ₹667 Crore in IndiGrid

India Grid Trust (IndiGrid) has secured a substantial investment of ₹667 crore from Alberta Investment Management Corporation (AIMCo) and HDFC Life as part of its latest fundraising initiative. AIMCo, one of Canada’s leading institutional investors, will contribute ₹567 crore, while HDFC Life will invest ₹100 crore. This investment forms a key part of IndiGrid's preferential issue process, which aims to raise a total of ₹695 crore following a successful offer-for-sale (OFS).

The funds are being raised through a primary issuance of units priced at ₹136.43 per unit, with AIMCo and HDFC Life's commitments marking significant milestones in this capital-raising effort. The remaining funds will come from other investors, further solidifying IndiGrid's financial position.

The preferential issue is being managed by Ambit Capital and SBI Caps, who are overseeing the process on behalf of IndiGrid. Their involvement underscores the importance and scale of this fundraising effort.

IndiGrid’s CEO, Harsh Shah, expressed enthusiasm about bringing AIMCo and HDFC Life on board, highlighting the strategic importance of these partnerships. Ahmed Mubashir, Managing Director and Head of EMEA and India Infrastructure at AIMCo, also shared his excitement, emphasizing IndiGrid's impressive growth and the potential for continued success with this fresh infusion of capital.

This investment reflects growing confidence in IndiGrid’s business model and its future prospects, as the trust continues to expand its infrastructure portfolio in India.

News by Rahul Yelligetti