IndiGrid Infrastructure Trust
IndiGrid Infrastructure Trust: ICRA Assigns 'AAA' Rating to Proposed NCDs
RATING
▲ Positive Development
LOW RISK
📅 Filed on BSE: 13 Nov 2026, 03:45 PM IST · BSE ID: 736c5de9-5147-4b6d-97b4-6a5f8da2b34a
View Original BSE Filing (PDF)
💡
In Simple Terms
IndiGrid's ability to repay debt remains at the highest level, confirmed by a top credit agency for existing and new borrowings.
🤖 AI Summary
- ICRA reaffirmed IndiGrid's existing INR 11,890.00 Crore NCDs and INR 950.00 Crore term loans at 'ICRA AAA'.
- A new proposed NCD issuance of INR 1,600.00 Crore has been assigned an 'ICRA AAA' rating.
- Short-term instruments, including Commercial Paper of INR 500.00 Crore, were reaffirmed at 'ICRA A1+'.
- The issuer rating for IndiGrid was reaffirmed at 'ICRA AAA' with a stable outlook.
🔢 Key Numbers - exact figures from BSE filing, not rounded
Non-convertible debentures (NCD)
11,890.00 INR Crore
Proposed non-convertible debentures
1,600.00 INR Crore
Term loan
950.00 INR Crore
Long-term/short-term – fund-based – Overdraft
10.00 INR Crore
Short-term – Non-fund based – Bank guarantee
40.00 INR Crore
Short-term – Non-fund based – Others
200.00 INR Crore
Commercial paper (CP)
500.00 INR Crore
🏢 How This Affects the Company
The reaffirmation and assignment of the highest credit rating ('AAA') across existing and proposed debt facilities strengthens IndiGrid's ability to access capital markets at competitive rates.
The 'AAA' rating on proposed non-convertible debentures of INR 1,600.00 Crore facilitates fundraising for growth and refinancing at favorable borrowing costs.
The sustained 'AAA' rating signifies a continued low credit risk profile for IndiGrid's debt instruments.
👥 What This Means For Shareholders
✅
Action Required
No action is required from shareholders regarding this credit rating update.
👤
Who Is Affected
All current and potential investors in IndiGrid Infrastructure Trust's debt instruments are affected by the credit rating information.
🔍
Management Signal
Management continues to prioritize maintaining the highest credit quality for the trust's debt obligations.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List - track these upcoming events
Future ICRA/CRISIL rating reviews for IndiGrid Infrastructure Trust.
Details of the proposed INR 1,600.00 Crore NCD issuance.
IndiGrid's next financial results announcement.
LOW RISK
Credit rating reaffirmed at the highest level ('AAA') indicates minimal financial risk for debt holders.
💡 Investor Takeaway
IndiGrid Infrastructure Trust's debt instruments, including a new INR 1,600.00 Crore NCD issuance, maintain the highest 'ICRA AAA' rating with a stable outlook, confirming strong creditworthiness.
⚖️ Strengths & Concerns
✅ Positives
- Existing INR 11,890.00 Crore NCDs and INR 950.00 Crore term loans reaffirmed at 'ICRA AAA' with stable outlook.
- Proposed INR 1,600.00 Crore non-convertible debentures assigned 'ICRA AAA' rating with stable outlook.
📅 Company Track Record
In June 2026, IndiGrid's INR 14,017.37 Crore NCDs and INR 5,120 Crore bank loans had their 'Crisil AAA' rating reaffirmed. Additionally, its 'IND AAA' long-term debt rating was maintained with a stable outlook.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What credit rating did ICRA assign to IndiGrid's proposed non-convertible debentures?
ICRA assigned an 'ICRA AAA' rating with a stable outlook to the proposed non-convertible debentures of INR 1,600.00 Crore.
What is the rating for IndiGrid Infrastructure Trust's existing non-convertible debentures?
IndiGrid's existing non-convertible debentures amounting to INR 11,890.00 Crore were reaffirmed at 'ICRA AAA' with a stable outlook.
What is the rating for IndiGrid's term loan facility?
The term loan facility of INR 950.00 Crore for IndiGrid Infrastructure Trust was reaffirmed at 'ICRA AAA' with a stable outlook.
What is IndiGrid's issuer rating from ICRA?
IndiGrid Infrastructure Trust's issuer rating was reaffirmed at 'ICRA AAA' with a stable outlook by ICRA Limited.
What rating did ICRA assign to IndiGrid's commercial paper?
ICRA reaffirmed the short-term rating for IndiGrid's Commercial Paper of INR 500.00 Crore at 'ICRA A1+'.
Questions based on this BSE filing only. For information purposes.