According to management, these acquisitions would increase IndiGrid portfolio IRR to 11%, based on the current price and will enable a Distribution per Unit of around Rs. 12 for the next five years.

February 20, 2018

IndiGrid has completed the acquisition of three transmission assets from its Sponsor – Sterlite Power Grid Ventures Limited. The sum paid for the transmission assets from the Sponsor stand at Rs. 1,410 cr. The acquisition will be financed by a Rs. 1,000 cr 10-year loan and a Rs. 420 cr short-term loan, which would be refinanced at a later date.

IndiGrid has also acquired a 46% stake in Patran Transmission Company Limited (PTCL) from Techno Power Grid Company Ltd, Techno Electric & Engineering Company Ltd and its nominee shareholders. The sum paid for the investment in PTCL stands at Rs. 232 cr.

According to management, these acquisitions would increase IndiGrid portfolio IRR to 11%, based on the current price and will enable a Distribution per Unit of around Rs. 12 for the next five years. With the completion of the acquisition of sponsor assets, IndiGrid’s total portfolio increases to 13 transmission lines and 2 substations fully operational across 8 states in India. The assets under management for IndiGrid increased to around Rs. 5,300 cr.