India Grid Trust has raised close to Rs 1,300 crore via rights issue last week. It is the first time an infrastructure investment trust (InvIT) has gone ahead and raised money.

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Most of this capital is going towards the acquisition of the last asset that the company has done as well as repayment of some borrowings which creates future headroom for growth for the company, said Harsh Shah, CEO of India Grid Trust in an interview with CNBC-TV18.

“Out of the Rs 1,300 crore, we plan to pay approximately Rs 700 crore towards repayment of debt and around Rs 600 crore is going to go towards consideration for the acquisition,” he stated.

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(Edited by : Ajay Vaishnav)