Indigrid Infrastructure Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
IndiGrid Infrastructure Trust has sent a Postal Ballot notice to its unitholders seeking approval to issue up to 2,80,55,919 units on a preferential basis at ₹168.77 per unit, aggregating to up to ₹473.50 Crores. The issue price is based on the higher of the 90-day VWAP (₹162.44) and 10-day VWAP (₹168.77) on NSE, which is the relevant stock exchange. The 36 proposed allottees include SBI Pension Fund schemes, Tata AIG General Insurance, Aditya Birla Sun Life Insurance, Reliance Employees Provident Fund, Indian Energy Exchange, and other domestic investors — none are sponsor-related, so this is entirely a non-sponsor/public category issue. The proceeds will be used for repaying existing debt (Federal Bank, HDFC Bank, debt securities), advancing loans to subsidiaries for project/capex, acquiring infrastructure assets, and investing in infrastructure sector debt. The trust's NAV stood at ₹148.21 per unit as of June 30, 2025. E-voting runs from October 14 to November 3, 2025, and results will be declared by November 4, 2025.
This preferential issue will dilute existing unitholders by approximately 3.4%, with total units rising from about 83.46 crore to 86.26 crore. However, since the issue price (₹168.77) is at a premium to the NAV (₹148.21) and aligned with market VWAPs, and the funds are aimed at reducing debt and funding growth, the net impact is likely neutral to mildly positive for existing unitholders. Unitholders should vote on the resolution during the e-voting window.