Description

Government of Singapore proposes to sell up to 4.36 crore units (4.58%) of IndiGrid Infrastructure Trust through stock exchange mechanism on February 5-6, 2026, with an oversubscription option of additional 2.65 crore units (2.78%).

Summary

Government of Singapore (the Seller) has notified BSE and NSE of a proposed Offer for Sale (OFS) of units in IndiGrid Infrastructure Trust. The base offer consists of 4,36,31,371 units representing 4.58% of the InvIT’s unit capital, with an oversubscription option to sell an additional 2,64,59,185 units (2.78%). If the oversubscription option is exercised, the total offering would be 7,00,90,556 units representing 7.36% of the unit capital. The OFS will be conducted through the stock exchange mechanism on designated windows provided by BSE and NSE.

Key Points

  • Seller: Government of Singapore (public unitholder)
  • Base Offer: 4,36,31,371 units (4.58% of unit capital)
  • Oversubscription Option: 2,64,59,185 units (2.78% of unit capital)
  • Total potential offering: 7,00,90,556 units (7.36% if oversubscription exercised)
  • Conducted under SEBI OFS Circular (SEBI/HO/MRD-PoD2/CIR/P/2024/00181 dated December 30, 2024)
  • Separate bidding windows for retail and non-retail investors
  • Non-retail investors can carry forward un-allotted bids to T+1 Day
  • Geographical restrictions apply (not for distribution in United States except to Qualified Institutional Buyers)

Regulatory Changes

No regulatory changes. This is a transaction notification conducted in accordance with existing SEBI OFS guidelines and stock exchange operational circulars.

Compliance Requirements

  • Bidders and brokers must read the entire Notice along with OFS Guidelines before participating
  • Transaction must comply with SEBI OFS Circular (December 30, 2024)
  • Must follow BSE Operational Guidelines (Notice 20240701-19 dated July 01, 2024)
  • Must follow NSE Operating Guidelines (Circular 93/2024 dated July 12, 2024)
  • Distribution restrictions apply for United States and other jurisdictions

Important Dates

  • T Day (February 05, 2026): OFS for non-retail investors only
  • T+1 Day (February 06, 2026): OFS for retail investors and non-retail investors with un-allotted bids carried forward
  • Notice Date: February 04, 2026

Impact Assessment

Market Impact: The potential sale of up to 7.36% stake by a major public unitholder (Government of Singapore) represents a significant secondary market transaction for IndiGrid Infrastructure Trust. The staggered offering across two days with separate windows for retail and institutional investors is designed to manage market impact and ensure orderly price discovery.

Liquidity Impact: The offering provides liquidity opportunity for both retail and institutional investors to acquire units in IndiGrid Infrastructure Trust through a transparent stock exchange mechanism.

Ownership Impact: Successful completion of the full offering would result in Government of Singapore reducing its holding by up to 7.36% of the InvIT’s unit capital, potentially leading to broader ownership distribution.

Impact Justification

Significant stake sale of 4.58-7.36% by major unitholder Government of Singapore in an infrastructure InvIT, conducted through stock exchange OFS mechanism with separate windows for retail and non-retail investors.