As many as ten insurance companies and six investment funds participated, with contributions from domestic institutional investors and foreign institutional investors amounting to 78 percent and 12 percent respectively.
This fundraise follows IndiGrid’s preferential issuance of Rs 438 crore, completed by November 2025.
With the completion of this institutional placement, IndiGrid has raised a total of Rs 1,938 crore in equity capital in FY 2025-26, reflecting a calibrated, phased approach to capital raising.
Post issuance, IndiGrid’s net debt to AUM will be 57 percent, providing a growth path of up to Rs 45,000 crore in Assets Under Management (AUM), while remaining within the leverage cap of 70 percent.
“We are grateful to our unitholders for their continued confidence in IndiGrid. This capital raise strengthens our balance sheet and enables us to pursue growth opportunities in a disciplined manner, with every investment decision anchored in long-term value creation and unitholder returns,” said Harsh Shah, Managing Director of IndiGrid. The Board of Directors of IndiGrid Investment Managers Ltd, acting in the capacity of investment manager of IndiGrid, on January 22, 2026, approved the issuance and allotment of approximately 9.20 crore new units at a price of Rs 163 per unit through this institutional placement.
Axis Capital Ltd, Ambit Pvt Ltd, Avendus Capital Pvt Ltd, NovaaOne Capital Pvt Ltd and SBI Capital Markets Ltd acted as Book Running Lead Managers for the issue. AZB & Partners and Hogan Lovells (Middle East) LLP acted as legal advisors.
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