BSEIndiGrid Infrastructure TrustHighNeutral
Announced Thu, 2 Jul · 20:47 IST
IndiGrid amalgamation scheme withdrawn after NCLT order
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Price reaction · full curve
Awaiting price reaction for this filing.
AI summary
IndiGrid informed exchanges that the proposed amalgamation of three solar SPVs (Universal Saur Urja, Terralight Solar Energy Tinwari, and Terralight Solar Energy Patlasi) into IndiGrid Limited, the HoldCo, has been withdrawn. The withdrawal follows an order from the NCLT New Delhi, with the certified copy received on July 1, 2026. The scheme stands revoked, cancelled, and is of no legal effect.
Likely market impact
Planned merger of three solar SPVs into IndiGrid's HoldCo is called off, so the intended consolidation will not happen as proposed.