IndiGrid to Acquire Shongtong Power Transmission for ₹53,158M

IndiGrid Infrastructure Trust has entered into Securities Purchase Agreements to acquire Shongtong Power Transmission Limited (SPTL) for an enterprise value not exceeding INR 53,158 million. The acquisition, subject to unitholder approval, is part of IndiGrid's strategy to own assets with long-term contracts for stable distributions. SPTL is currently under construction and has nil turnover. The transaction is considered an arm's length deal, with a valuation report obtained as per InvIT Regulations. The acquisition will be completed in tranches post-completion and revenue generation of the project.