Alberta Investment Management And HDFC Life To Invest Rs 667 Crore In India Grid Trust
India Grid Trust announced on Tuesday that Alberta Investment Management Corporation and HDFC Life will invest Rs 567 crore and Rs 100 crore, respectively.
IndiGrid revealed it has initiated a preferential issue process to raise Rs 695 crore following the successful completion of its offer-for-sale, according to the company statement. The new issue will be priced at Rs 136.43 per unit.
AIMCo, one of Canada's largest institutional investment managers, and HDFC Life have committed Rs 567 crore and Rs 100 crore, respectively, with the remaining amount expected from other investors.
Ambit Capital and SBI Caps are running a preferential issue process on IndiGrid's behalf.
Harsh Shah, Chief Executive Officer of IndiGrid, said, 'We are also delighted to welcome AIMCo and HDFC Life through a preferential issue to our roster of reputed investors.'
Ahmed Mubashir, Managing Director, Head of EMEA and India, Infrastructure from AIMCo, said, "AIMCo is also impressed by IndiGrid's track record of enabling accretive growth and is excited to be further supporting and enabling that journey with this equity injection."
Last week, KKR successfully concluded an OFS process to bring their unitholding down from 21.17% to 3.85%.
(With Inputs From PTI)
-
Talking Points This Week: Leadership Shock At Nvidia, Earnings Strength, And The Fog Over Hormuz
The Anthropic IPO pricing and first trading day, Nvidia's upcoming earnings, and any fresh signals from Iran will set the tone for the following week.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
