Indigrid Infrastructure Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
IndiGrid Infrastructure Trust, through its wholly-owned subsidiary IndiGrid 2 Private Limited, has completed the acquisition of 74% equity (representing 100% interest) in Enerica Infra 4 Private Limited (EIPL4) from Enerica ReGrid Infra Private Limited (EnerGrid) at INR 10 per share, with the remaining 26% to be acquired within 3 years. Simultaneously, IGL2 divested 74% equity (100% interest) in Enerica Infra 1 Private Limited (EIPL1) back to EnerGrid for INR 1,00,000. EIPL4 has been appointed as the new Project Manager for IndiGrid's Battery Energy Storage Systems (BESS) projects, replacing EIPL1 whose project management agreement has been terminated. EnerGrid is classified as a related party due to a common director with IndiGrid's Investment Manager, though both transactions were done at arm's length. A Share Purchase and Shareholder's Agreement has been executed, signaling an ongoing partnership framework with EnerGrid for the BESS portfolio.
This restructuring consolidates IndiGrid's BESS project management under a newly-acquired vehicle in partnership with EnerGrid, a player focused on India's energy transition and battery storage infrastructure. Net cash outlay is small and unit price impact should be limited, but it deepens IndiGrid's strategic positioning in the fast-growing BESS segment with a phased 100% takeover over three years.