Infrastructure Investment Trust (InvIT) IndiGrid, owned by KKR in the Indian power sector, has taken over Virescent Renewable Energy Trust, another fund floated by the same company. Valued at INR40bn ($533m), Sebi approval is being sought for the transaction. Although Indian law currently prohibits such mergers, the deal is the first of its kind. About half a dozen domestic and global energy developers, including Jindal Steel and Power, Actis, and an Abu Dhabi-based conglomerate, competed in the final round.
