Interise Trust unitholders approve NHAI pact amendment
Interise Trust unitholders have approved the amendment to the concession agreement with the National Highway Authority of India (NHAI) through a supplementary agreement. The resolution was passed via postal ballot with 100% of the votes polled in favor, representing 95.60% of the outstanding units. The voting process, conducted electronically by NSDL, concluded on May 20, 2026.
*this image is generated using AI for illustrative purposes only.
Interise Trust has announced the conclusion of its postal ballot voting process regarding the amendment to the concession agreement with the National Highway Authority of India (NHAI). The resolution, which sought unitholder approval for the project SPV to execute a supplementary agreement, was passed with the requisite majority. The voting process concluded on Wednesday, May 20, 2026.
The postal ballot was conducted in compliance with the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014. The notice for the postal ballot was dated April 27, 2026, and the voting period commenced on April 30, 2026. The resolution required a majority where votes cast in favour were not less than 60% of the votes cast against, as per the amended and restated Trust Deed dated February 27, 2024.
Voting Results Summary
The scrutinizer's report confirmed that the resolution secured 100% of the votes polled. A total of 99,65,98,841 votes were cast in favour of the resolution, with no votes recorded against it. The participation represented 95.60% of the outstanding units.
| Category | No. of Votes Polled | % of Votes Polled on Outstanding Units | Votes in Favour | Votes Against | % in Favour on Votes Polled |
|---|---|---|---|---|---|
| Sponsor(s)/ Investment Manager/ Project Manager(s) and associates | 63,41,46,428 | 60.83% | 63,41,46,428 | NIL | 100% |
| Public Holdings (Foreign Portfolio Investor) | 36,24,52,413 | 34.77% | 36,24,52,413 | NIL | 100% |
| Total | 99,65,98,841 | 95.60% | 99,65,98,841 | NIL | 100% |
Resolution Details
The specific resolution approved by unitholders authorizes the amendment to the concession agreement with NHAI by the project SPV, Devihalli Hassan Tollway Private Limited. This will be executed through a supplementary agreement. The total number of unitholders as on the cut-off date of April 24, 2026, was 47.
The facility for casting votes was provided by National Securities Depository Limited (NSDL). No physical postal ballot forms were received, and all voting was conducted electronically. The final report was generated after the voting period concluded at 5:00 p.m. IST on May 20, 2026.
What specific changes to the toll collection terms or project timeline are expected following the execution of the supplementary agreement between Devihalli Hassan Tollway Private Limited and NHAI?
How might the amended concession agreement impact Interise Trust's projected distributions to unitholders over the remaining concession period?
Could the amendments to the NHAI concession agreement signal broader renegotiations across other highway InvIT projects in India, and what precedent does this set for the sector?
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