IndiGrid Investment Managers board to consider Rs 1,500-cr rights issue

NEW DELHI: The board of IndiGrid Investment Managers will meet on Tuesday to decide on a proposal related to raising Rs 1,500 crore through a rights issue, according to a BSE filing.

IndiGrid Investment Managers Limited is the investment manager of the India Grid Trust (IndiGrid), an infrastructure investment trust.

In a BSE filing on Monday, IndiGrid said the size of the issue is the amount approved by the board of directors of the IndiGrid Investment Managers Limited on January 22, 2021 and is subject to the final decision of the board of directors of the investment manager.

On January 22, 2021, the board had met to consider a resolution to raise capital up to an aggregate value not exceeding Rs 1,500 crore by way of issue of units of IndiGrid to its eligible unitholders on a rights basis.