India Grid Trust NCD Scheme Details

India Grid Trust NCD Scheme Details

India Grid is a power sector infrastructure investment trust. It operates power transmission and renewable energy assets in India. The company has launched a non-convertible debentures offer on April 28, 2021. The India Grid Trust NCD scheme remains a secured, redeemable, non-convertible debentures offer.

The scheme may close for subscription on May 5, 2021. As of the reports, the IndiGrid Trust may offer a total of 10,00,000 NCDs through this scheme. In which, 1,00,000 NCDs reserved for QIB and NII each. Moreover, for HNI and RII, the trust has been reserved up to 4,00,000 NCDs each.

Basic Details of NCD:

Issue Open April 28, 2021 – May 5, 2021
Security Name India Grid Trust
Security Type secured, redeemable, non-convertible debentures (secured NCD)
Issue Size ( base) Rs. 100 crores
Issue Size (shelf) Rs. 900 crores
Price of Issue Rs. 1,000 per NCD
Face Value Rs. 1,000 each NCD
Minimum Lot Size 1 NCD
Market Lot 1 NCD
Listing At BSE, NSE
Credit Rating CRISIL AAA/Stable’, ‘IND AAA/Stable’
Tenor 3,5,7, & 10 years
Series I to VI
Payment Frequency Annual, Quarterly
Basis of Allotment First Come First Serve Basis

Investment Objective:

The Power Grid Trust plans to utilize net proceeds of the proposed issue for the purpose of onward lending to the portfolio assets, financing, and for repayment/prepayment of interest and principal of existing borrowings of the Trust. General corporate purposes.

India Grid Trust NCD Coupon Rates for Retail & HNI investors

Series Frequency Tenure – Yr Coupon Rate Effective Yield
I Annual 3 6.57% 6.74%
II 5 7.60% 7.60%
III 7 7.90% 7.89%
IV Quarterly 7.69% 7.91%
V Annual 10 8.20% 8.20%
VI Quarterly 7.97% 8.21%

Besides, the NCD issue may lead by JM Financial Consultants Private Limited. However, the market experts suggested as the scheme may suitable to subscribe for long-term investment.

Disclaimer: This article offers just information regarding the scheme. It does not provide any advice or investment tips to investors. MF investments are fixed to market risk. Please consult your financial advisor before investing.

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