Indigrid Infrastructure Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
IndiGrid Infrastructure Trust, India's largest listed power sector InvIT, has signed binding agreements to acquire NERES XVI Power Transmission Limited (NPTL) from Techno Electric & Engineering Company Limited (TEECL). The acquisition, valued at up to INR 460 crore (enterprise value), will happen in one or more tranches after the project achieves its commercial operation date, expected by December 2026. NPTL is an under-construction inter-state power transmission project in northeastern India, comprising a 400/220/132 kV substation with 1,400 MVA capacity and a 45 km double-circuit transmission line. Once operational, the project is expected to add around INR 49 crore in annual tariff revenue. This is not a related-party transaction and will be funded through cash consideration.
The acquisition strengthens IndiGrid's transmission portfolio with a high-quality asset near its existing northeast network, boosting long-term stable cash flows and distribution potential for unitholders. It also deepens IndiGrid's partnership with TEECL, combining EPC expertise with disciplined acquisition strategy.