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 (EnerGrid) for an enterprise value not exceeding ₹7,056 million (approx. ₹706 crore). EIPL3 is setting up a 187.5 MW/750 MWh standalone Battery Energy Storage System (BESS) project in Uttar Pradesh under a Tariff-Based Competitive Bidding with Viability Gap Funding support. The project has a 15-year concession period post Commercial Operation Date and is expected to generate annual revenue of approximately ₹810 million (excluding VGF). The acquisition is with a related party (common director with IndiGrid's Investment Manager) and will be completed at arm's length price, with closing happening post one year from COD. The deal aligns with IndiGrid's strategy of owning long-term annuity assets to provide stable distributions to unitholders.
This is a material, related-party acquisition that expands IndiGrid's portfolio into the energy storage segment with a long-duration revenue stream, potentially enhancing future distribution yields for unitholders. Investors should note the deal is yet to close (post one year from COD) and will be subject to valuation and regulatory compliance.