Capital Infra Trust board approves Rs. 10.72 crore indemnity claims
Capital Infra Trust's board approved raising indemnity claims totaling Rs. 10.72 crore from Gawar Construction Limited to address GST shortfalls on annuity. The claims pertain to project SPVs including Hardiya Hasanpur Highway Private Limited. The board also noted a Right of First Offer notice from the sponsor 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 |
|---|---|---|---|---|---|
| -1.25% | +0.52% | +5.14% | -0.41% | -4.82% | -25.69% |
How will the successful recovery of these indemnity claims impact the distributable cash flow for unitholders in the upcoming financial year?
What is the likelihood of the Trust exercising the Right of First Offer (ROFO) for the six project SPVs, and how might this alter the portfolio composition?
Will the potential capital raise required for the ROFO transaction dilute existing unitholders or necessitate an increase in leverage ratios?
17
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
