India Grid initiates preferential share issue to raise Rs 6.95 billion

India Grid Trust (IndiGrid) has launched a preferential share issue priced at Rs 136.43 per share, aiming to raise approximately Rs 6.95 billion. This move comes after the completion of an offer-for-sale (OFS) by its sponsor, KKR, which saw strong demand from both existing and new long-term investors. The OFS, designed to reduce KKR’s stake from 21.17% to 3.85%, was nearly two times oversubscribed. The offering attracted participation from major institutional investors, including L&T, HSBC…