Indigrid Infrastructure Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
IndiGrid has filed a revised postal ballot notice correcting an arithmetic error: the total units to be allotted have been changed from 28,055,934 to 28,055,919. Through this postal ballot, the Trust is seeking unitholder approval to issue up to about 2.81 crore units on a preferential basis at ₹168.77 per unit, raising up to ₹473.50 crores from 36 non-sponsor allottees. Key investors include NPS Trust (SBI Pension Fund schemes), Tata AIG General Insurance, Aditya Birla Sun Life Insurance, Reliance Employees PF, Indian Energy Exchange, and Kothari Products. The issue price of ₹168.77 is the higher of the 10-day (₹168.77) and 90-day (₹162.44) volume-weighted average prices on NSE, and is above the NAV of ₹148.21 per unit (as on June 30, 2025). Proceeds will be used for debt repayment, advancing loans/investments in subsidiaries for project development and capex, acquisition of infrastructure assets, and investments in infrastructure-sector debt.
If approved, the preferential issue will raise fresh capital to repay debt and fund growth, but will dilute existing unitholders by about 3.4% (total units rising from ~83.46 cr to ~86.26 cr). The issue price being well above NAV and participation from marquee institutional investors signals confidence, though the lock-in and preferential nature mean new units will not be freely tradable immediately.