Indigrid Infrastructure Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
IndiGrid's wholly-owned subsidiary IndiGrid 2 Private Limited has executed a Share Purchase and Shareholder's Agreement on May 19, 2025 and completed the acquisition of 100% interest in Enerica Infra 1 Private Limited (EIPL1) from Enerica ReGrid Infra Private Limited on May 20, 2025. EIPL1 is a newly incorporated entity (April 21, 2025) with just Rs.1 Lakh paid-up capital and nil turnover, acquired at face value of Rs.10 per share through cash consideration. EIPL1 will act as the Project Manager for IndiGrid's Battery Energy Storage System (BESS) projects, and the seller EnerGrid is a related party due to a common director, with the deal done at arm's length. Currently 74% equity shareholding has been acquired, while the remaining 26% will be picked up within 3 years.
The acquisition is strategically aligned with IndiGrid's core BESS and power transmission business and brings the project management function for its BESS projects in-house. Given EIPL1's negligible current size (Rs.1 Lakh paid-up capital, nil revenue), near-term financial impact is minimal, but it strengthens operational control over BESS project execution in the long run.