75% voting). " /> 75% voting). " />
Amazon Great Indian Festival 2020 - Electronics
Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Web www.equitybulls.com
Amazon Great Indian Festival 2020 - Electronics
Stock Report

| More

IndiGrid approves Induction of KKR as a Sponsor

Posted On: 2020-09-29 01:22:20

The unitholders of India Grid Trust (IndiGrid) have approved the induction of Esoteric II Pte. Ltd., an affiliate of KKR & Co. Inc ("Esoteric II") as a sponsor (as defined under the InvIT Regulations) with special majority ( > 75% voting). The special resolution to induct Esoteric II as a sponsor was passed with a special majority in the 3rd Annual General Meeting of IndiGrid held on September 28th, 2020. All regulatory approvals including the Board's assent are in place for Esoteric II 's induction as a co-sponsor. This move marks an extension of IndiGrid's strategic relationship with KKR and underscores IndiGrid as a compelling investment opportunity for long-term investors.

KKR is a leading global investment firm with over 43 years of experience and USD 222 billion of assets under management as of June 30, 2020. As part of KKR's first investment through its Asia Pacific Infrastructure strategy, it had invested INR 1,084 crores in May 2019 and currently owns ~23% stake in IndiGrid. Separately, KKR also owns 60% stake in Sterlite Investment Managers Limited (SIML), the investment manager of IndiGrid.

IndiGrid has a proven track record of consistent distribution over the last 13 quarters and has distributed a total of INR 36.56 per unit to its investors since listing. The platform has maintained a AAA rating by efficiently managing its assets and making nine accretive acquisitions since its listing, in a competitive landscape. Its AUM has increased more than threefold from INR 38 billion in June 2017 to INR 136 billion in September 2020.

Sanjay Nayar, CEO of KKR India said: "Being named as an inducted sponsor of IndiGrid further reaffirms our steadfast commitment to support the Trust's exciting journey and our priority in addressing India's rapidly growing infrastructure needs. With the combination of our strong sector expertise and India experience, we aim to continue assisting IndiGrid's management team in expanding its platform and providing accessible electricity to Indian communities."

Harsh Shah, Chief Executive Officer of IndiGrid added, "We welcome KKR's induction as a Sponsor and look forward to benefiting from KKR's deep expertise and focus on value creation for IndiGrid unit holders. We believe that KKR's induction as a sponsor will expand IndiGrid's access to long-term capital and allow the Trust to leverage KKR's global experience of investment management, along with enhancing the corporate governance standards in line with global standards. This puts IndiGrid in good stead to achieve its aim of being among Asia's most admired yield vehicles with an AUM of ~INR 300 billion over the next two years."

In 2020, IndiGrid has acquired assets worth INR 25 billion (USD 340 million). In addition to that, it had entered into an exclusive framework agreement with Sterlite Power to acquire three projects worth ~INR 65 billion (USD 880 million) as and when they are commissioned, of which GPTL has been acquired by IndiGrid. In FY20, IndiGrid had raised ~INR 25.1 billion (USD 340 million) of capital by way of preferential issue which was subscribed by KKR and GIC amongst other marquee investors. KKR currently owns ~23% stake in IndiGrid while GIC owns ~20%. Separately, KKR also owns majority interest in the Investment Manager of IndiGrid.

Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com

Amazon Great Indian Festival 2020 - Mobiles

Other Headlines:

Paisalo Digital Ltd reports jump in Q2FY21 consolidated PAT to Rs. 21.94 crore

ZEN Technologies Ltd Q2 consolidated PAT at Rs. 0.78 crore

Divyashakti Granites Ltd posts Rs. 1.54 crore PAT in Q2FY21

PNB Gilts Ltd board to consider Q2 results, interim dividend on Nov 10, 2020

The Anup Engineering Ltd Q2FY21 net profit at Rs. 11.66 crore

JSW Holdings Ltd Q2FY21 consolidated PAT at Rs. 39.48 crore

SKP Securities Ltd Q2FY21 net profit at Rs. 0.60 crore

Hester BioSciences Ltd Q2FY21 consolidated net profit up at Rs. 6.68 crore

Deepak Nitrite Limited reports earnings for Q2FY21, H1FY21

Zuari Agro Chemicals Ltd board to consider Q2FY21 results on Nov 9, 2020

Chalet Hotels Ltd board to announce Q2FY21 results on Nov 10, 2020

Aarti Drugs Ltd to expand Metformin Capacity to 3000 TPM

Nectar Lifesciences Ltd posts consolidated loss of Rs. 7.31 crore in Q2FY21

Wheels India Ltd Q2FY21 consolidated PAT at Rs. 6.84 crore

Quess Corp Ltd reports Q2FY21 consolidated PAT of Rs. 45.68 crore

Ador Multiproducts Ltd Q2 consolidated PAT zooms to Rs. 3.31 crore

Edelweiss Financial Services Ltd Q2FY21 consolidated loss at Rs. 48.50 crore

Wheels India Ltd commissions new plant at Thervoykandigai

Grasim Industries Limited and Lubrizol Partner for India's largest CPVC Resin Plant

WEP Solutions Ltd board to consider Q2FY21 results, rights issue on Nov 6, 2020

Motilal Oswal Financial Services Ltd posts consolidated net profit of Rs. 296.46 crore in Q2

Deepak Nitrite Ltd Q2FY21 consolidated net profit rises to Rs. 170.19 crore

Voith Paper Fabrics India Ltd reports net profit of Rs. 7.94 crore in Q2

RIL Q2FY21 consolidated net profit declines to Rs. 9567 crore

Emkay Global Financial Services Ltd posts Rs. 3.67 crore consolidated PAT in Q2FY21

Aarti Surfactants Ltd board to consider raising capital, Q2 results on Nov 5, 2020

DLF Ltd posts consolidated PAT of Rs. 232.14 crore in Q2

Dynamatic Technologies Ltd and CSIR-CSIO sign MoU

ATUL Auto Ltd to acquire 70% in Khushbu Auto Finance Limited

Jindal Stainless Limited records strong growth of 88% in Q2 PAT

RPG Life Sciences Ltd Q2FY21 net profit at Rs. 11.15 crore

Mahindra Logistics Ltd Q2 consolidated PAT at Rs. 14.85 crore

Jay Bharat Maruti Ltd posts Rs. 9.19 crore consolidated PAT in Q2

Sundaram-Clayton Ltd posts consolidated net profit of Rs. 110.79 crore in Q2

IndusInd Bank Ltd posts consolidated PAT of Rs. 663.08 crore in Q2FY21

Rain Industries Ltd board declares interim dividend of Rs. 1 for CY2020

V-Mart Retail Limited opens 7 new stores, closes down 2 stores

Kesar Enterprises Ltd commences crushing season 2020-21 of Sugar Division

Max Financial Services Ltd reports earnings for Q2FY21

CRISIL revises long-term rating of Aarti Industries Ltd

Pitti Engineering Ltd posts PAT of Rs. 10.09 crore in Q2FY21

Jenburkt Pharmaceuticals Ltd Q2FY21 PAT at Rs. 5.67 crore

Nucleus Software Exports Ltd Q2FY21 consolidated PAT drops QoQ to Rs. 29.45 crore

Rain Industries Ltd Q3CY2020 consolidated PAT at Rs. 118.16 crore

UPL Limited reports Q2FY21 consolidated net profit of Rs. 463 crore

Maral Overseas Ltd posts PAT of Rs. 3.71 crore in Q2

PAR Drugs and Chemicals Ltd H1FY2021 PAT at Rs. 5.11 crore

Just Dial Ltd Q2FY21 consolidated net profit drops to Rs. 47.34 crore

Mahindra Lifespaces achieves residential sales of Rs. 115 crores in Q2FY21

Arvind SmartSpaces announces Results for the quarter and half year ended Sep 30, 2020

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019