Description

Government of Singapore exercises oversubscription option to sell additional 2.64 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 proposed 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 base offer of 4,36,31,371 units (4.58%). The oversubscription option adds an additional 2,64,59,185 units (2.78% of unit capital) to the offer.

Key Points

  • Base Offer Units: 4,36,31,371 units (4.58% of IndiGrid’s unit capital)
  • Oversubscription Option: 2,64,59,185 units (2.78% of unit capital) - FULLY EXERCISED
  • Total Offer Size: 7,00,90,556 units (7.36% of IndiGrid’s unit capital)
  • Retail Reservation: 70,09,057 units reserved for retail investors (10% of total offer)
  • Seller: Government of Singapore (public unitholder)
  • Asset Manager: GIC Pte. Ltd.
  • Offer mechanism: Stock exchange designated window

Regulatory Changes

No regulatory changes introduced. This is a notification of the exercise of oversubscription option in an ongoing offer for sale process.

Compliance Requirements

  • Stock exchanges (BSE and NSE) to facilitate the increased offer size through designated window
  • Retail allocation window to accommodate 70,09,057 units on T+1 Day (February 06, 2026)
  • Valid bids required for retail allocation

Important Dates

  • February 04, 2026: Original notice date for offer for sale
  • February 05, 2026 (T Day): Offer day for non-retail investors only
  • February 06, 2026 (T+1 Day): Offer day for retail investors and non-retail investors with un-allotted bids carried forward

Impact Assessment

Market Impact: The increased offer size from 4.58% to 7.36% of IndiGrid’s unit capital represents a substantial secondary market supply. The exercise of full oversubscription option indicates seller’s intent to maximize divestment.

Investor Impact: Retail investors have a dedicated allocation of approximately 10% of total offer units (70.09 lakh units) on February 06, 2026. Non-retail investors had first access on February 05, 2026.

Liquidity Impact: Sale of 7.01 crore units by a major public unitholder (Government of Singapore) will increase free float and trading liquidity in IndiGrid units.

Pricing Impact: Large block sale through stock exchange mechanism may create temporary price pressure depending on demand-supply dynamics during the offer period.

Impact Justification

Significant offer for sale by major unitholder affecting 7.36% of IndiGrid's unit capital, with dedicated retail allocation window