IndiGrid Receives AAA/Stable Ratings From CRISIL And ICRA For Proposed Debt Instruments

IndiGrid Investment Managers Limited has informed the BSE Limited and the National Stock Exchange of India Limited about the latest credit ratings assigned to IndiGrid Infrastructure Trust. The disclosure was filed on August 13, 2026, following rating evaluations issued by CRISIL Ratings Limited and ICRA Limited on August 12, 2026.

CRISIL Ratings reaffirmed its **Crisil AAA/Stable** rating for IndiGrid’s long-term facilities and **Crisil A1+** rating for short-term debt. The agency reaffirmed ratings for bank loans amounting to ₹5,120 crore and existing non-convertible debentures (NCDs worth ₹14,017.37 crore. It also assigned a new **Crisil AAA/Stable** rating to proposed NCDs of ₹300 crore.

ICRA Limited also reaffirmed its **ICRA AAA/Stable** Issuer Rating for IndiGrid Infrastructure Trust. The agency reaffirmed ratings for NCDs worth ₹10,790 crore, proposed NCDs of ₹800 crore, a ₹950 crore term loan, and fund-based bank overdraft facilities of ₹10 crore.

For short-term instruments, ICRA reaffirmed its **ICRA A1+** ratings for bank guarantees of ₹40 crore, other non-fund-based facilities of ₹200 crore, and commercial papers amounting to ₹500 crore. ICRA also assigned a new **ICRA AAA/Stable** rating to proposed NCDs worth ₹300 crore.

The reaffirmation of high-grade ratings by both agencies highlights IndiGrid’s strong financial position, debt servicing capability and operational profile. The stable outlook indicates expectations of continued financial stability and effective management of its debt obligations.

The disclosure was signed by Urmil Shah, Company Secretary and Compliance Officer of IndiGrid Investment Managers Limited. Copies were also forwarded to Axis Trustee Services Limited and IDBI Trusteeship Services Limited.

The ratings provide continued confidence in IndiGrid’s credit profile as it raises additional debt to support its infrastructure investment and growth plans.