Signs Securities Purchase Agreements to Acquire Luhri Power Transmission at Enterprise Value up to INR 13,360 Million

IndiGrid has executed Securities Purchase Agreement(s) dated September 25, 2026 to acquire Luhri Power Transmission Limited (LPTL).

Sat 26 Sep 2026

Enterprise Value

not exceeding INR 13,360 million

Asset

Luhri Power Transmission Limited (LPTL)

Expected COD

Q3'FY 2030

Transaction Type

Securities Purchase Agreement(s) dated September 25, 2026

Acquisition Structure

Entire shareholding and management control in one or more tranches after project completion and revenue generation

What was announced

IndiGrid has executed Securities Purchase Agreement(s) dated September 25, 2026 for the acquisition of Luhri Power Transmission Limited (LPTL) from Enerica ReGrid Infra Private Limited (EnerGrid) or any group entity of EnerGrid.

The acquisition would happen in one or more tranches, after LPTL becomes a completed and revenue generating project, in line with its Transmission Service Agreement (TSA) and the lock-in restrictions thereunder.

The price

• Enterprise value not exceeding INR 13,360 million, subject to closing adjustments specified in the agreements.
• Consideration will be in cash or such other manner as mutually agreed, subject to InvIT Regulations.
• IndiGrid is to acquire the entire shareholding and management control in LPTL.

About the asset

• LPTL was incorporated on October 28, 2022 by REC Power Development and Consultancy Limited to execute the "Transmission system for evacuation of power from Sunni Dam HEP and Luhri Stage-I HEP".
• It is an Inter-State Transmission System (ISTS) project in power transmission.
• Paid up capital: INR 5,00,000. Turnover: Nil, as it is currently under construction.
• Expected Commercial Operation Date is Q3'FY 2030.

Related party angle

Terralight Solar Energy Tinwari Private Limited, a group entity of EnerGrid, has a common director with IndiGrid's Investment Manager, so this is classified as a related party transaction under the InvIT Regulations. The update states the transaction will be completed at an arm's length price and as per a valuation report taken under InvIT Regulations.

Conditions still to be met

• Approval of the unitholders of IndiGrid.
• Governmental, regulatory and other approvals as may be required.
• Terms of the Securities Purchase Agreement(s), the TSA and SEBI InvIT Regulations.

How investors may read it

The stated object is to add assets with long term contracts, supporting stable distributions to unitholders, consistent with IndiGrid's investment strategy under its Trust Deed. At this stage it is a signed agreement for a future acquisition of an under-construction asset, with the purchase contingent on completion, revenue generation, unitholder approval and regulatory clearances.

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