IndiGrid Infrastructure Trust on Friday announced that it has raised Rs 1,500 crore through an Institutional Placement Issue (IPI), backed by strong participation from both existing and new investors.

The issue, which opened on January 19, was oversubscribed two times, reflecting robust investor demand, the company said in a statement.

A total of 10 insurance companies and six mutual funds participated in the placement. Domestic institutional investors accounted for 78 per cent of the total allocation, while foreign institutional investors contributed 12 per cent.