IndiGrid is India’s first listed power sector infrastructure investment trust (InvIT), sponsored by KKR. Established on October 21, 2016, the entity is registered with SEBI pursuant to the InvIT regulations to own power transmission and solar assets. As of September 2020 ,IndiGrid owns and operates ~USD 1.80 billion worth of operational transmission assets including 28 power transmission lines and 9 substations extending over ~6,180 circuit kilometres & 11,565 MVA across 14 states and 1 Union Territory.
Company Profile:
IndiGrid is India's first power sector Infrastructure Investment Trust that is focused on owning and operating power transmission assets and solar assets. It was established in 2016 under the SEBI InvIT Regulations. It owns and operates ~USD 1.80 billion worth of operational transmission assets including 28 power transmission lines and 9 substations extending over ~6,180 circuit kilometres & 11,565 MVA across 14 states and 1 Union Territory.
IndiGrid is sponsored by KKR and is publicly listed on Indian stock exchanges with a diversified shareholder base. In a preferential issue in FY20, IndiGrid raised USD 340 Mn by way of preferential issue which was subscribed by KKR and GIC amongst other marquee investors. As of August 18th 2020; FII ownership in IndiGrid is at ~60%. KKR owns ~23%, GIC owns ~20% while the balance 17% is held by other marquee foreign investors. DII and corporates hold ~20% of the units which includes 8 insurance companies, 4 mutual funds and 4 employee pension funds. In addition to this, KKR acquired majority stake (~60%) in IndiGrid’s investment manager which is led by a team of independent professionals.
Sustainability, corporate governance and operational excellence have been the key tenets of IndiGrid’s growth strategy. These strengths, combined with AAA rated cash flows and focus on accretive acquisitions, have allowed IndiGrid to underpin its goal of sustainably growing returns for its investors. It has a proven track record of consistent distribution over the last 13 quarters and has returned a total of USD 200 Million to investors as cash distributions.
While power transmission assets remain at its core, IndiGrid is now exploring new avenues like solar energy assets to achieve its vision of becoming the most admired yield platform in Asia by growing its AUM to INR 300 bn and beyond over the next two years.
