Description

Government of Singapore to sell up to 7.36% of IndiGrid Infrastructure Trust units through stock exchange mechanism on February 05-06, 2026.

Summary

Government of Singapore (the Seller) has notified BSE and NSE of a proposed Offer for Sale (OFS) of IndiGrid Infrastructure Trust units through the stock exchange mechanism. The base offer comprises 4,36,31,371 units (4.58% of unit capital) with an oversubscription option of additional 2,64,59,185 units (2.78%), totaling up to 7,00,90,556 units (7.36% of unit capital). The OFS will be conducted in accordance with SEBI OFS Circular and Stock Exchange operational guidelines.

Key Points

  • Base Offer Units: 4,36,31,371 units representing 4.58% of IndiGrid’s unit capital
  • Oversubscription Option: Up to 2,64,59,185 additional units representing 2.78% of unit capital
  • Total Potential Offer: Up to 7,00,90,556 units representing 7.36% of unit capital
  • Seller: Government of Singapore (public unitholder)
  • Offer Mechanism: Stock exchange OFS mechanism via designated windows on BSE and NSE
  • Regulatory Framework: SEBI circular SEBI/HO/MRD-PoD2/CIR/P/2024/00181 dated December 30, 2024
  • Investor Categories: Separate sessions for non-retail and retail investors
  • Geographic Restrictions: Not for release in United States except to Qualified Institutional Buyers

Regulatory Changes

No regulatory changes introduced. The OFS is conducted under existing framework:

  • SEBI Master Circular for comprehensive guidelines on OFS (December 30, 2024)
  • BSE Revised Operational Guidelines for OFS (notice 20240701-19 dated July 01, 2024)
  • NSE Revised Operating Guidelines for OFS (circular 93/2024 dated July 12, 2024)

Compliance Requirements

  • Bidders and Brokers: Must read entire Notice along with OFS Guidelines before participating
  • Stock Exchanges: Provide separate designated windows for the OFS
  • Seller: Comply with disclosure requirements under OFS Guidelines including vital offer details
  • Geographic Compliance: Restrictions on distribution in United States and other jurisdictions apply

Important Dates

  • Notice Date: February 04, 2026
  • T Day (Non-Retail Investors Only): February 05, 2026
  • T+1 Day (Retail Investors and Non-Retail with Un-allotted Bids): February 06, 2026

Impact Assessment

Market Impact: The potential sale of up to 7.36% of IndiGrid Infrastructure Trust units represents a significant secondary market offering that could impact unit prices and trading volumes. The two-day offering structure allows both institutional and retail participation.

Liquidity Impact: The large block offering will increase unit float and may enhance liquidity in IndiGrid units, though could create short-term price pressure depending on demand.

Investor Impact: Retail investors get dedicated access on T+1 Day, while institutional investors can participate across both days. Non-retail investors with un-allotted bids can carry forward to T+1 Day.

Strategic Significance: Government of Singapore’s divestment of up to 7.36% stake indicates portfolio rebalancing by a major institutional holder, which could signal changing investment priorities or capital allocation strategies.

Impact Justification

Large institutional offer for sale of 4.58-7.36% of IndiGrid Infrastructure Trust units by Government of Singapore, impacting unit holders and market liquidity