IndiGrid Infrastructure Trust Investment Managers Limited has announced a board meeting scheduled for February 12, 2026, to review the company's third quarter financial performance and consider key strategic decisions. The meeting will address multiple important matters including financial results, distribution policies, and debt management strategies.

Meeting Agenda and Key Decisions

The board meeting will focus on three primary agenda items that are crucial for the company's operations and stakeholder interests. The directors will review comprehensive financial information and make decisions regarding income distribution and capital structure optimization.

Distribution Timeline and Record Date

The company has established a clear timeline for potential distribution to unitholders. If the board approves the distribution during the February 12, 2026 meeting, the record date has been predetermined to ensure efficient processing.

Regulatory Compliance Framework

The board meeting has been convened in accordance with multiple regulatory frameworks governing infrastructure investment trusts. The company is adhering to provisions under the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, and the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements), 2015.

Financial Review Scope

The financial information under review will encompass both standalone and consolidated results for the quarter ended December 31, 2025. The unaudited financial statements will be accompanied by a limited review report, providing stakeholders with comprehensive insights into the company's performance during the third quarter of fiscal year 2026.

Debt Raising Initiatives

The board will evaluate various debt raising options to support the company's capital requirements. The potential sources include term loans, non-convertible debt securities, and other financing modes permitted under applicable law, demonstrating the company's proactive approach to capital management and growth financing.

The Government of Singapore has formally notified stock exchanges of its plan to divest a significant stake in IndiGrid Infrastructure Trust through an offer for sale (OFS) mechanism, marking one of the largest infrastructure trust divestments in recent times.

Offer Structure and Timeline

The OFS is structured as a two-day event scheduled for February 05-06, 2026, with distinct trading windows for different investor categories. The base offer comprises 4,36,31,371 units representing 4.58% of IndiGrid's unit capital, with an oversubscription option for an additional 2,64,59,185 units (2.78% stake).

Investor Categories and Allocation

The OFS follows a structured approach with separate days designated for different investor categories. February 05, 2026 (T Day) is exclusively reserved for non-retail investors, while February 06, 2026 (T+1 Day) accommodates retail investors and non-retail investors carrying forward unallotted bids.

Retail investors are defined as individuals placing bids worth up to ₹2,00,000 aggregated across stock exchanges, with a minimum 10% reservation of offer units. Non-retail investors must deposit 100% of bid value upfront, while institutional investors have the option to bid without upfront payment.

Allocation Methodology and Restrictions

The allocation will follow a price priority basis at multiple clearing prices, with specific restrictions to ensure broad participation:

• No single bidder (except mutual funds and insurance companies) can receive more than 25% of offer units
• Minimum 25% reservation for mutual funds and insurance companies
• Retail investors can bid at cut-off price or specify their price
• Proportionate allocation in case of oversubscription at specific price levels

Broker Appointments and Settlement

Axis Capital Limited and Ambit Capital Private Limited have been appointed as selling brokers, with Axis Capital also serving as the settlement broker. BSE has been designated as the primary stock exchange, while NSE Clearing Limited will handle clearing operations.

Withdrawal and Cancellation Provisions

The seller retains comprehensive rights to withdraw or cancel the offer under specific circumstances. The offer may be withdrawn before opening on T Day, triggering a 10-day cooling-off period. Post-bidding cancellation is permitted if insufficient demand is received from non-retail investors at or above the floor price, or in case of settlement defaults.

Regulatory Compliance and International Restrictions

The OFS operates under SEBI's comprehensive guidelines for stock exchange mechanism offers, with specific provisions for international investors. The offer includes detailed restrictions for US investors, requiring compliance with Securities Act regulations and limiting participation to qualified institutional buyers in the United States.

The transaction represents a significant liquidity event for IndiGrid Infrastructure Trust unitholders, providing an opportunity for both institutional and retail investors to participate in India's infrastructure investment trust sector at a predetermined floor price.

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