Description

Government of Singapore exercises oversubscription option to sell additional 2.65 crore units of IndiGrid Infrastructure Trust, increasing total offer size to 7.01 crore units (7.36% of unit capital).

Summary

The Government of Singapore, through GIC Pte. Ltd., has exercised the oversubscription option for its offer for sale of units in IndiGrid Infrastructure Trust. The seller will now offer a total of 7,00,90,556 units (7.36% of unit capital) instead of the original base offer of 4,36,31,371 units (4.58%). The offer is being conducted through the stock exchange mechanism with separate windows for non-retail investors (February 05, 2026) and retail investors (February 06, 2026).

Key Points

  • Government of Singapore exercising oversubscription option to sell additional 2,64,59,185 units (2.78% of unit capital)
  • Total offer size increased from 4.58% to 7.36% of IndiGrid’s unit capital
  • Total units being offered: 7,00,90,556 units
  • Base Offer Units: 4,36,31,371 units (4.58%)
  • Oversubscription Option: 2,64,59,185 units (2.78%)
  • 70,09,057 units reserved for retail investors (10% of total offer)
  • Offer conducted through separate designated window of BSE and NSE
  • Seller: Government of Singapore (Asset Manager: GIC Pte. Ltd.)
  • InvIT: IndiGrid Infrastructure Trust

Regulatory Changes

No regulatory changes introduced. This is a notification of oversubscription option exercise under the existing offer for sale framework through stock exchange mechanism.

Compliance Requirements

  • Stock exchanges (BSE and NSE) to allocate reserved units to retail investors on T+1 Day
  • Allocation subject to receipt of valid bids
  • Separate trading windows to be maintained for retail and non-retail investors
  • All terms and conditions as per the original Notice dated February 04, 2026 remain applicable

Important Dates

  • February 04, 2026: Original notice date for offer for sale
  • February 05, 2026 (T Day): Offer window for non-retail investors only
  • February 06, 2026 (T+1 Day): Offer window for retail investors and non-retail investors with un-allotted bids from T Day
  • February 05, 2026: Date of oversubscription option exercise notification

Impact Assessment

Market Impact: The increased offer size of 7.36% of IndiGrid’s unit capital represents a substantial secondary market transaction. The Government of Singapore is divesting a significant portion of its holdings, which may impact unit price depending on demand-supply dynamics.

Investor Impact: Retail investors have a dedicated allocation of approximately 70 lakh units (10% of offer) on T+1 Day. Non-retail investors get early access on T Day with carry-forward option for un-allotted bids.

Liquidity Impact: The offer through stock exchange mechanism ensures transparent price discovery and provides exit opportunity to the selling unitholder while offering investment opportunity to new investors. The staggered approach (non-retail first, then retail) helps manage market impact.

Impact Justification

Significant offer for sale by major unitholder affecting 7.36% of InvIT's unit capital, with distinct windows for retail and non-retail investors