Description

BSE announces the schedule and bidding details for the Offer for Sale of 4.36 crore shares of INDIGRID INFRASTRUCTURE TRUST scheduled for February 5-6, 2026.

Summary

BSE has announced the detailed schedule for the Offer for Sale (OFS) of shares in INDIGRID INFRASTRUCTURE TRUST (Symbol: INDIGRID, Code: 540565, ISIN: INE219X23014). The OFS will be conducted on February 5-6, 2026, with institutional investors bidding on T day (Feb 5) and retail investors on T+1 day (Feb 6). The base offer size is 4,36,31,371 shares with an oversubscription option of 2,64,59,185 shares, totaling up to 7,00,90,556 shares. The floor price is set at Rs. 160.50 with allocation following price priority method.

Key Points

  • Base Offer Size: 4,36,31,371 shares with oversubscription option of 2,64,59,185 shares
  • Total Maximum Shares: 7,00,90,556 shares (Base + Green Shoe)
  • Floor Price: Rs. 160.50 per share
  • Retail Reservation: 10% of issue size (43,63,137 base shares, up to 70,09,056 total)
  • Non-Retail Offer: 3,92,68,234 base shares (up to 6,30,81,500 total)
  • Market Lot: 1 share
  • Tick Size: Rs. 0.05
  • Allocation Method: Price Priority
  • Seller Oversubscription Decision: To be communicated by 5 PM on February 5, 2026

Regulatory Changes

No regulatory changes introduced. This circular provides operational details for an existing OFS framework.

Compliance Requirements

For Trading Members and Custodian Members:

  • Access OFS platform through designated URLs (iBBS, RTRMS, Extranet)
  • Follow category-specific bidding requirements and margin rules
  • Ensure proper collateral (cash and cash equivalents) for respective investor categories
  • Adhere to bid entry, modification, and cancellation timelines
  • Complete give-up/take-up procedures by specified deadlines (7:30 AM on T+1 and T+2 for institutional 0% margin bids)

Investor Categories and Margin Requirements:

  • Retail Investors (RI/RIC): Bid value up to Rs. 2 lakhs - 100% upfront margin in cash/cash equivalents
  • Non-Institutional Investors (NII): Retail above Rs. 2 lakhs - 100% upfront margin in cash
  • Institutional Investors (MF/IC/OTHS): 100% upfront margin OR 0% margin option (both in cash)

Important Dates

T Day - February 5, 2026 (Thursday):

  • Bid entry for IC/MF/OTH/NII: 9:15 AM to 3:30 PM
  • Bid modification and cancellation: 9:15 AM to 3:30 PM
  • Seller’s oversubscription decision: By 5:00 PM

T+1 Day - February 6, 2026 (Friday):

  • Give-up/Take-up for institutional investors: Up to 7:30 AM
  • Bid entry for RI/RIC and unallocated T-day bidders: 9:15 AM to 3:30 PM
  • Bid modification and cancellation: 9:15 AM to 3:30 PM

T+2 Day - February 9, 2026 (Monday):

  • Give-up/Take-up for 0% margin institutional bids: Up to 7:30 AM

Settlement:

  • T day bidders: T+1 settlement
  • T+1 day bidders: T+2 settlement
  • T+1 carried forward non-retail bids: T+2 settlement

Impact Assessment

Market Impact:

  • Moderate impact expected given the significant offer size of up to 7 crore shares
  • Two-day OFS structure allows for broader participation across investor categories
  • Price discovery through price priority allocation method may create volatility around Rs. 160.50 floor price

Operational Impact:

  • Trading members must ensure proper platform access and connectivity (Internet and Leased Line options)
  • Staggered bidding schedule (institutional vs retail) requires careful coordination
  • Multiple margin and collateral requirements necessitate proper client categorization and fund management

Investor Impact:

  • Retail investors have dedicated T+1 day bidding window with 10% reservation
  • Institutional investors with 0% margin option have extended give-up/take-up window until T+2
  • Unallocated T-day bidders can carry forward bids to T+1, providing additional opportunity

Impact Justification

Significant OFS event for infrastructure trust with clear impact on trading activity and investor participation across institutional and retail categories over two days