IndiGrid Infrastructure Trust Updates Unitholding Pattern Following Capital Restructuring

1 min read Updated on 20 Nov 2025, 06:25 PM

Reviewed by

Radhika SScanX News Team

Overview

IndiGrid Infrastructure Trust has filed its revised unitholding pattern following a preferential issue and capital restructuring. Total outstanding units increased to 86,05,40,180 from 83,45,58,088. Public holding rose slightly to 98.77%, while sponsor group holding decreased to 1.23%. Foreign Portfolio Investors remain the largest institutional unitholders with 34.56% ownership. Individual investors hold 28.62% of the trust.

*this image is generated using AI for illustrative purposes only.

IndiGrid Infrastructure Trust , a leading infrastructure investment trust in India, has submitted its revised unitholding pattern to stock exchanges following the completion of a preferential issue and capital restructuring. The trust's latest filing reveals significant changes in its ownership structure and total outstanding units.

Key Highlights of the Updated Unitholding Pattern

Total Outstanding Units: The trust now has 86,05,40,180 total outstanding units, an increase from the previous 83,45,58,088 units.
Public Holding: Public unitholders now own 98.77% of the trust, a slight increase from the previous 98.73%.
Sponsor Group Holding: The sponsor group's holding has decreased marginally to 1.23% from 1.27%.

Detailed Breakdown of Unitholding

Category	No. of Units Held	Percentage of Total
Sponsor & Sponsor Group	1,06,04,757	1.23%
Public Holding - Institutions	44,29,76,089	51.48%
Public Holding - Non-Institutions	40,69,59,334	47.29%
Total Units Outstanding	86,05,40,180	100.00%

Notable Changes in Institutional Holdings

Foreign Portfolio Investors: Remain the largest institutional unitholders with 29,74,09,245 units, representing 34.56% of the total.
Insurance Companies: Hold 10,04,97,826 units, accounting for 11.68% of the trust.
Mutual Funds: Own 1,76,84,121 units, constituting 2.06% of the total units.

Non-Institutional Holdings

Individuals: Hold 24,63,21,894 units, representing 28.62% of the trust.
Bodies Corporates: Own 14,09,05,878 units, accounting for 16.37% of the total units.

The updated unitholding pattern reflects IndiGrid Infrastructure Trust's recent capital restructuring efforts, which have resulted in a slight increase in public ownership. This change may potentially enhance the trust's liquidity and broaden its investor base.

Investors and market participants are advised to consider this updated information when evaluating their investment decisions related to IndiGrid Infrastructure Trust.

Financial Highlights

IndiGrid reported a quarterly revenue of INR 826.7 crores, marking a 2.6% increase year-on-year. The company declared a distribution per unit (DPU) of INR 4, which is 6.7% higher than the same period last year. This distribution aligns with IndiGrid's annual DPU guidance of INR 16 for FY26.

Metric	Q2 FY26	Y-o-Y Change
Revenue	826.7	+2.6%
DPU	4.00	+6.7%
NDCF	362.9	+13.5%

Operational Performance

The trust maintained a strong operational performance with a weighted average quarterly availability of 99.72% for its transmission assets. The solar portfolio achieved a CUF (Capacity Utilization Factor) of 20.9%, despite challenges from extended monsoons and extreme weather conditions in some regions.

Capital Raise and Acquisitions

IndiGrid successfully raised INR 438 crores through a preferential allotment, attracting a mix of institutional and non-institutional investors. This capital infusion has helped reduce the net debt to AUM ratio to approximately 60%, providing headroom for future growth.

The company has also signed a definitive agreement to acquire the NERES XVI project for an enterprise value of about INR 460 crores upon commissioning. This acquisition is part of IndiGrid's strategy to expand its asset portfolio and enhance unitholder value.

Future Outlook

Harsh Shah, Managing Director of IndiGrid, commented on the results and future prospects: "We are excited to be in the middle of an unprecedented transformation in the power sector. With the significant investments required in transmission and battery storage, we are confident in our ability to grow meaningfully and provide superior risk-adjusted returns to our unitholders."

IndiGrid's focus remains on maintaining stable operations, ensuring predictable distributions, and pursuing growth opportunities in the transmission and battery energy storage sectors. The trust is well-positioned to capitalize on the expanding pipeline of transmission and BESS (Battery Energy Storage System) projects in India, with plans to participate in future greenfield opportunities.

Market Recognition

In a notable development, IndiGrid was included in the FTSE Emerging Markets/APAC - All Cap Index and FTSE India - All Cap Index during the quarter, which is expected to boost liquidity for the trust's units.

As IndiGrid continues to navigate the evolving energy landscape, its strategy of maintaining a diversified portfolio with a focus on transmission assets (currently about 75% of AUM) and complementary renewable energy projects positions it well for sustainable growth in the coming years.