India Grid Trust has announced that IFC (International Finance Corporation) has subscribed to a listed NCD (non-convertible debenture) issuance of IndiGrid, aggregating to Rs 1,140 crore, according to a statement.
The acquisition will be for a cash consideration of an enterprise value not exceeding Rs 1,497. 5 crore, according to a BSE filing.
It has signed a share purchase agreements (SPAs) for the acquisition of 100 per cent shareholding on July 30, 2022, IndiGrid said in a statement.
PTC Industries share price was locked in 20 percent upper circuit on August 14 at Rs 582.50
Edelweiss Securities is bullish on India Grid Trust has recommended buy rating on the stock with a target price of Rs 113 in its research report dated September 25, 2019.
The InvIT, promoted by Sterlite Power Grid Ventures, had reported revenues of Rs 126.7 crore in the corresponding quarter last fiscal, the firm said in a statement issued here.
ICICI Direct is bullish on India Grid Trust has recommended Buy rating on the stock with a target price of Rs 110 in its research report dated July 26, 2018.
ICICI Direct is bullish on India Grid Trust recommended Buy rating on the stock with a target price of Rs 110 in its research report dated May 28, 2018.
Edelweiss is bullish on India Grid Trust recommended Buy rating on the stock with a target price of Rs 108 in its research report dated May 28, 2018.
Edelweiss is bullish on India Grid Trust has recommended buy rating on the stock with a target price of Rs 108 in its research report dated March 28, 2018.
Axis Direct is bullish on India Grid Trust has recommended buy rating on the stock with a target price of Rs 105 in its research report dated March 07, 2018.
The acquisitions include RAPP Transmission Company, Purulia, Kharagpur Transmission Company, and Maheshwaram Transmission, all from Sterlite Power Grid Ventures, a move which has helped increase its assets under management to Rs 5,300 crore.
The Board of Sterlite Investment Managers acting as the investment manager of the trust has approved a distribution per unit of Rs 2.89 per unit for third quarter of the fiscal.
Axis Direct is bullish on India Grid Trust has recommended buy rating on the stock with a target price of Rs 105 in its research report dated November 08, 2017.
India Grid Trust has reported their first numbers after listing and is also considering acquiring four projects from the sponsor. In an interview to CNBC-TV18, Pratik Agarwal, CEO of India Grid Trust spoke about the results and his outlook for the company.
The company, which last month concluded its Rs 2,250 crore initial public offering, commands a market valuation of Rs 2,660.12 crore.
India Grid Trust fell as much as 6.3 percent in early trade to Rs 93.70 amid consolidation in the market.
The IPO of India Grid Trust, second in the infrastructure investment trusts (InvIT) space, was subscribed 1.17 times. The price band for the offer, open during May 17-19, was set at Rs Rs 98-100 per unit.
The company is selling shares at between 98 to 100 rupees per share, and will become the second infrastructure investment trust to list in the country after IRB InvIT Fund had a tepid debut on Thursday.
Angel Broking has come out with its report on India Grid Trust. The research firm has recommended to "Subscribe " the IPO in its research report as on May 18 , 2017.
The InvIT, sponsored by Sterlite Power Grid Ventures Ltd, has allotted 10.12 crore units on an average price of Rs 100 to 19 anchor investors for a sum of Rs 1,012.44 crore, it said in a statement.
The IPO, the second in infrastructure investment trust (InvIT) segment, will open on May 17 and close on May 19. It commands a price band of Rs 98-100 per unit.
With India Grid Trust’s (IndiGrid) initial offer sale coming up this week, investors will hope that it manages to replicate the successful public offering of IRB Infrastructure, India’s first such infrastructure investment trust.
The first four infrastructure investment trusts (InvITs), which are likely to hit the primary markets this financial year, can reduce the overall debt of the sponsor groups by close to Rs 13,000 crores, says R