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IndiGrid Powers Up: ₹4.7 Billion NCD Issue to Fuel Next-Gen Energy Expansion

Updated: April 24, 2025 22:30

Image Source: ETN News
IndiGrid Infrastructure Trust, a leading player in India’s power transmission and renewable energy sector, has announced plans to issue non-convertible debt securities (NCDs) worth up to ₹4.70 billion. This strategic fundraising initiative aims to bolster IndiGrid’s financial flexibility and support its ongoing expansion in the infrastructure domain.
 
Key Highlights:
  • IndiGrid proposes to raise up to ₹4.70 billion through the issuance of non-convertible debt securities, further strengthening its capital structure.
  • The funds are expected to be utilized for refinancing existing debt, funding acquisitions, and supporting the development of under-construction transmission and renewable energy projects.
  • IndiGrid’s diversified portfolio includes 17 operational transmission projects, three greenfield transmission projects, 19 solar generation facilities, and two battery energy storage system (BESS) projects, spanning 20 states and two union territories.
  • The Trust’s asset base features 46 EHV overhead transmission lines, 13 substations, and solar generation assets with a total capacity of approximately 855 MW (AC).
  • IndiGrid maintains a healthy financial profile with robust debt coverage metrics, a net debt-to-AUM ratio of about 59% as of February 2025, and a leverage cap well within regulatory limits.
  • Structural safeguards for investors include a debt service reserve account, cash-trap triggers, and a structured payment mechanism to ensure timely debt servicing.
The move aligns with IndiGrid’s long-term strategy to expand its footprint in both power transmission and renewable energy, while maintaining strong governance and risk management practices.
 
Source: MarketScreener

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