An entity holds short-term investments to fund a future capital expenditure. Sales are INFREQUENT and INSIGNIFICANT in value (only mature-and-reinvest cycles until funds are needed; only minor pre-maturity sales). Under Ind AS 109, the business model is:

Para B4.1.4 — INSIGNIFICANT sales are consistent with hold-to-collect; FREQUENT/SIGNIFICANT sales would push to hold-to-collect-and-sell. (Contrast: an entity that anticipates capex but actively buys/sells assets to maximise total return until needed has a HOLD-TO-COLLECT-AND-SELL model — that classification depends on the actual portfolio management behaviour.)