Indigrid Infrastructure Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
IndiGrid Infrastructure Trust has signed a definitive agreement to acquire 100% of Enerica Infra 3 Private Limited (EIPL3) from Enerica ReGrid Infra Private Limited, which is setting up a 125 MW / 500 MWh standalone Battery Energy Storage System project in Uttar Pradesh under Viability Gap Funding support. The enterprise value of the deal is capped at about Rs. 9,570 million (roughly Rs. 957 crore), before closing adjustments. The project will sell power under a 15-year PPA with NTPC Vidyut Vyapar Nigam Ltd, generating around Rs. 1,100 million in annual revenue. The acquisition is a related-party transaction because the seller has a common director with IndiGrid's investment manager, and the deal price will be based on an independent valuation. Actual ownership transfer will happen one year after the project achieves commercial operations, expected after completion of construction.
This adds a long-tenure, contracted revenue asset (~Rs. 1,100 crore per year for 15 years) to IndiGrid's portfolio and takes it into the energy storage business, which should support stable future distributions to unitholders. However, investors should note the deal size (~Rs. 957 crore), the related-party nature, and the delay until COD plus one year before the acquisition actually closes.