Capital Infra Trust board approves Rs 10.72 crore indemnity claims
The Board of Directors of Gawar Investment Manager Private Limited, acting as Investment Manager to Capital Infra Trust, approved indemnity claims totaling Rs. 10.72 crore from Gawar Construction Limited to address GST shortfalls. The claims include Rs. 7,27,98,489 for Hardiya Hasanpur Highway Private Limited, Rs. 48,79,423 for Dewas Ujjain Highway Private Limited, and Rs. 2,64,27,384 for Gawar Narnaul Highway Private Limited. Additionally, the Board appointed Mr. S. Sundararaman as Valuer for FY 2026-27 and authorized the evaluation of a ROFO notice for six project SPVs.
*this image is generated using AI for illustrative purposes only.
The Board of Directors of Gawar Investment Manager Private Limited, acting as the Investment Manager to Capital Infra Trust , approved raising indemnity claims amounting to Rs. 10.72 crore from Gawar Construction Limited. The claims address shortfalls related to the change in law for GST on annuity across several project SPVs. The Board also authorized the evaluation of a Right of First Offer (ROFO) notice received from the sponsor for six project SPVs.
The Board approved an indemnity claim of Rs. 7,27,98,489 from Gawar Construction Limited for Hardiya Hasanpur Highway Private Limited. This amount is due by June 30, 2026, and has been calculated as per the provisions of the Share Purchase Agreement (SPA). Additionally, the Board approved claims of Rs. 48,79,423 and Rs. 2,64,27,384 for Dewas Ujjain Highway Private Limited and Gawar Narnaul Highway Private Limited, respectively, towards similar GST shortfalls under their respective SPAs.
Indemnity Claims Approved
| Project SPV | Indemnity Claim Amount (Rs.) |
|---|---|
| Hardiya Hasanpur Highway Private Limited | 7,27,98,489 |
| Dewas Ujjain Highway Private Limited | 48,79,423 |
| Gawar Narnaul Highway Private Limited | 2,64,27,384 |
The Board appointed Mr. S. Sundararaman, a Registered Valuer with IBBI Registration Number IBBI/RV/06/2018/10238, as the Valuer of the Trust for Financial Year 2026-27. This appointment is subject to the approval of the Unitholders. The Board meeting was held on June 29, 2026, pursuant to the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014.
Regarding the ROFO notice from Gawar Construction Limited for six Project SPVs, the Board authorized the evaluation of the opportunity. It also approved the appointment of consultants for due diligence and other advisors to facilitate the transaction and any corresponding capital raise that may be required. The meeting commenced at 05:45 P.M. and concluded at 06:05 P.M.
Historical Stock Returns for Capital Infra Trust
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.21% | +0.64% | +0.98% | +1.48% | -9.31% | -24.96% |
What is the likelihood of Gawar Construction Limited meeting the payment deadline for the Rs. 7.27 crore claim due in 2026?
How will the potential acquisition of the six project SPVs via ROFO impact the Trust's leverage ratio and debt profile?
What specific capital raise strategies are being considered to finance the potential acquisition of the SPVs?
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