"Alberta Investment and HDFC Life to Invest ₹667 Crore in India Grid Trust"

India Grid Trust (IndiGrid) announced rcently that Alberta Investment Management Corporation (AIMCo) and HDFC Life will invest ₹567 crore and ₹100 crore, respectively, in the trust. This investment is part of IndiGrid's preferential issue process aimed at raising ₹695 crore, following a successful offer-for-sale (OFS).

IndiGrid has launched its preferential issue process to raise the funds through a primary issuance of units priced at ₹136.43 per unit. The investment commitments from AIMCo, one of Canada's largest institutional investment managers, and HDFC Life are notable highlights, with the remainder of the funds to be contributed by other investors.

Ambit Capital and SBI Caps are managing the preferential issue process on behalf of IndiGrid.

Harsh Shah, CEO of IndiGrid, expressed enthusiasm about welcoming AIMCo and HDFC Life to their roster of esteemed investors. Ahmed Mubashir, Managing Director and Head of EMEA and India Infrastructure at AIMCo, praised IndiGrid's track record of growth and expressed excitement about supporting the trust's ongoing development with this equity investment.

BS