IFC may invest $400 Mn in Power Grid Corporation of India Limited, a national power transmission company of India responsible for planning, coordination and undertaking high voltage inter-state transmission in the country.
Power Grid has undertake project to enhance electricity transmission infrastructure in India.
The total project cost is estimated to be $2.3-3.5 bn over the next 12 months proposed to be 70% financed with debt and remaining from internal accruals.
IFC will invest $400 Mn which constitutes 15% of project cost, while balance debt will be raised including from multilaterals namely World Bank and ADB, and through issuance of domestic bonds.
Zodius Capital has closed first tranche of its second fund Zodius Capital II at R700 Cr ($110 Mn). The $500 Mn fund was launched in last year along with Alternate Asset Management, a subsidiary of Avendus Capital.