Indigrid Infrastructure Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
IndiGrid Infrastructure Trust has signed a Share Purchase Agreement to acquire 100% of the equity shares and management control of Gadag Transmission Limited (GTL) from ReNew Transmission Ventures and KNI India AS (a Norfund-KLP JV). The deal is valued at an enterprise value of up to INR 372 crore, paid in cash, with an additional earn-out linked to change-in-law and availability payments. GTL is an operational inter-state transmission system (ISTS) asset in Karnataka, with ~187 circuit km of lines and 1,000 MVA capacity, designed to evacuate 2,500 MW of solar power. The acquisition is expected to add around INR 18 crore to IndiGrid's annual Net Distributable Cash Flow (NDCF), and will be funded through a mix of equity, internal accruals, and debt, taking post-deal net debt/AUM to about 60.5%. The transaction is not a related-party deal and remains subject to regulatory and lender approvals.
This is a portfolio-accretive acquisition for IndiGrid, strengthening its transmission footprint in Karnataka and supporting stable, long-term distributions to unitholders. The deal is funded partly through debt but management has indicated adequate headroom remains for future growth, which should be viewed as a positive but neutral-to-mildly-positive signal for the unit price.