India Grid Trust, or Indi Grid, on Monday said it has filed has filed draft papers with the Securities and Exchange Board of India (Sebi) for the proposed issue of its units for an amount up to R2,650 crore.
India Grid an infrastructure investment trust (InvIT) sponsored by Sterlite Power Grid Ventures. Sterlite Infraventures is the investment manager and Axis Trustee Services is the trustee.
The units of IndiGrid are proposed to be listed on NSE and BSE. The Lead Managers to the Issue are Morgan Stanley India, Citigroup Global Markets, and Edelweiss Financial Services. Proceeds from the listing of IndiGrid will be used to repay debt and for other general purposes.
Sterlite Power Grid Ventures got the approval to launch an InvIT in November.