BSEAnzen India Energy Yield Plus TrustHighNeutral
Announced Wed, 18 Mar · 13:33 IST

Anzen India Energy Yield Plus Trust has informed the Exchange regarding Disclosure of material issue

Listed Co AcquisitionStrategic Transactions View source PDF
Price reaction · full curve

Awaiting price reaction for this filing.

AI summary

Anzen India Energy Yield Plus Trust has submitted a valuation report for its proposed 100% acquisition of Kudgi Transmission Limited (KTL), a power transmission SPV in Karnataka with about 980 circuit km of 400/765 kV transmission lines. The acquisition is being made under a Right of First Offer (ROFO) from Infrastructure Yield Plus II (IYP II), a related party under SEBI InvIT Regulations, and therefore qualifies as a related party transaction. CA Jayeshkumar Shah (IBBI Registered Valuer) has determined the fair enterprise value of KTL at INR 20,691 Mn using the DCF method with a WACC of 7.48%, as on 31st December 2025. Along with 100% equity, the trust will also acquire outstanding listed non-convertible debentures of INR 12,000 Mn from KTL. KTL has a remaining concession period of about 25 years and 9 months ending 19-Sep-2051 and earns revenue under a long-term Transmission Service Agreement with CERC-approved tariffs.

Likely market impact

The acquisition will add a third transmission SPV to the trust's portfolio, expanding its stable, annuity-like cash flows and overall AUM. Because it is a related-party deal, it will require additional SEBI InvIT compliance, including unitholder approval and enhanced disclosures, which could influence unitholder sentiment and unit price movement.