T. Rowe Price Associates, Inc. and its affiliates have substantially reduced their shareholding in Indraprastha Gas Ltd through a significant disposal of equity shares via open market sales on 29 April 2026.

Transaction Details

The institutional investor disposed of 9,973,151 shares representing 0.712% of the company's total share capital through open market sales. This transaction has been disclosed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Shareholding Changes

The disposal has resulted in a notable reduction in T. Rowe Price Associates' stake in the natural gas distribution company. Prior to this transaction, the firm held 51,565,000 shares, constituting 3.683% of the total share capital.

Regulatory Compliance

The disclosure confirms that T. Rowe Price Associates does not belong to the promoter or promoter group of Indraprastha Gas Ltd. The company's shares are listed on both the Bombay Stock Exchange Ltd and the National Stock Exchange of India Ltd.

The firm held no encumbrances, voting rights other than through shares, or convertible securities before or after the transaction. The company's total equity share capital remained unchanged at 1,400,001,600 shares following the disposal.

Documentation

The regulatory filing was signed by Ellen York, Vice President of T. Rowe Price Associates, Inc., from Baltimore, Maryland, USA, on 30 April 2026, confirming the authenticity of the transaction details and compliance with SEBI regulations.

Indraprastha Gas Ltd. witnessed significant market activity with a major block trade on NSE worth ₹78.98 crores, while its promoter Bharat Petroleum Corporation Limited (BPCL) has submitted a regulatory declaration confirming no encumbrance on the company's shares during the financial year ended 31st March 2026. The declaration was filed on 3rd April 2026 with stock exchanges and the company's audit committee.

Major Block Trade Transaction

A substantial block trade was executed on the National Stock Exchange involving Indraprastha Gas shares. The transaction details highlight significant institutional activity in the stock.

Regulatory Compliance Declaration

The declaration was made pursuant to Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. BPCL confirmed that neither the company nor any person acting in concert has created any encumbrance on Indraprastha Gas shares, directly or indirectly, during FY26.

Filing Details and Recipients

The declaration was formally submitted to multiple stakeholders to ensure comprehensive disclosure. The filing was addressed to BSE Ltd. at Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai, and National Stock Exchange of India Ltd. at Exchange Plaza, Bandra-Kurla Complex, Mumbai. Additionally, the Audit Committee of Indraprastha Gas Ltd. received the declaration.

Corporate Governance Significance

This regulatory filing demonstrates BPCL's commitment to maintaining transparency in its promoter shareholding activities. The declaration ensures compliance with SEBI's substantial acquisition and takeover regulations, which require promoters to disclose any encumbrance on their shareholdings. The document was digitally signed by V. Kala, Company Secretary of BPCL, on 3rd April 2026 at 10:46:14 hours. Such declarations are essential for maintaining investor confidence and ensuring adherence to corporate governance standards in the Indian capital markets.