Indigrid Infrastructure Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
IndiGrid Infrastructure Trust has filed its Annual Secretarial Compliance Report for the financial year ended March 31, 2025, prepared by SARK & Associates LLP. The report reveals that the Investment Manager received administrative warnings from SEBI via a letter dated March 28, 2025 for seven specific deficiencies, including incomplete disclosure in the secretarial compliance report, failure to disclose half-yearly financial information separately in annual reports for FY 2023 and FY 2024, lapses in Independent Director compliance, and failure to make a separate stock exchange disclosure for restructuring of non-convertible debt securities. The Trustee, Axis Trustee Services Limited, also received eight separate administrative warnings and advisories from SEBI related to inspections conducted during 2021–2024. Additionally, SEBI issued an advisory letter on February 6, 2025 requiring enhanced disclosures in valuation reports. The Investment Manager has stated these are administrative warnings with no monetary impact and has submitted detailed action reports to SEBI on April 21, 2025, along with corrective measures.
These are administrative warnings rather than financial penalties, so the direct cash impact on IndiGrid is expected to be minimal. However, the multiple compliance lapses — especially around disclosures, Independent Directors' duties, and debt restructuring — are governance red flags that unit-holders should track, even though the Investment Manager has assured corrective steps and Board-level oversight.