Maple Infrastructure Trust has approved the issuance of up to ₹700 crore in non-convertible debentures (NCDs) on a private placement basis. The decision was taken by the InvIT Committee of Maple Infra InvIT Investment Manager Private Limited during a meeting held on Monday, August 17, 2026.

The trust will issue up to 70,000 senior, secured, rated, listed, transferable, taxable, and redeemable non-convertible debentures. Each debenture carries a face value of ₹1,00,000. The issuance will be executed in one or more tranches to eligible investors via private placement. This borrowing falls within the overall approved borrowing limits of the trust.

Meeting details

The InvIT Committee meeting commenced at 6:00 am and concluded at 7:00 pm. The approval follows previous intimations dated August 10, 2026, and August 12, 2026.

NCD issuance at a glance

Key parameters of the approved NCD issuance are summarised below:

Regulatory compliance

The intimation was issued pursuant to the SEBI (Infrastructure Investment Trusts) Regulations, 2014. It also aligns with the SEBI Master Circular for Infrastructure Investment Trusts dated July 11, 2025, along with any subsequent amendments, circulars, or guidelines issued thereunder.

Axis Trustee Services Limited serves as the trustee for the entity, which previously operated under the name Indian Highway Concessions Trust before its rebranding.

What the numbers show

The approval of ₹700 crore in non-convertible debt allows the trust to raise capital without diluting the existing unitholder base. By opting for non-convertible instruments, the trust preserves current ownership stakes while accessing liquidity for operational or expansionary needs within its existing borrowing limits.

maple infra trust unitholders have unanimously approved the trust’s audited standalone and consolidated financial statements for the financial year ended March 31, 2026, alongside the asset valuation report for the same period. The resolutions were passed during the fifth annual meeting of unitholders held on July 24, 2026, through video conferencing and other audio-visual means, in compliance with Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014.

The meeting also saw the approval of M/s. GT Valuation Advisors Private Limited as the valuer for the financial year 2026-27, including the fixation of its remuneration. All three agenda items received unanimous support from the unitholders who exercised their voting rights, with no votes cast against any resolution. The proceedings were conducted in accordance with SEBI Master Circular No. SEBI/HO/DDHS-PoD-2/P/CIR/2025/102 dated July 11, 2025.

Voting Participation and Results

The remote e-voting facility was available from July 21, 2026, to July 23, 2026. A total of 42,00,96,413 votes were polled out of 47,27,73,200 outstanding units, representing an 88.86% participation rate. No voting occurred during the physical video conference session itself; all votes were cast remotely.

The sponsor group and public institutions demonstrated full engagement, casting 100% of their held units. Public non-institutions participated at a lower rate of 7.08%, though all votes cast by this segment were in favor of the resolutions.

Meeting Proceedings

Louis-Marie St-Maurice, Chairman of Maple Infra InvIT Investment Manager Private Limited, presided over the meeting. Anup Vikal, Chief Executive Officer, provided an update on the business and operations of the trust. The quorum was present, comprising six unitholders attending via video conference: two from the sponsor group and four from the public category.

Jatin Prabhakar Patil, Partner at Mayekar & Associates, served as the scrutinizer for the meeting. His report confirmed that the voting process was conducted fairly and transparently, with no invalid votes received. S.R. Batliboi & Co. LLP acted as the statutory auditor, while Axis Trustee Services Limited represented the trustee.

What the Numbers Show

The high participation rate of 88.86%, driven entirely by institutional and sponsor voting, underscores strong alignment among major stakeholders regarding the trust’s financial reporting and asset valuation. The complete absence of dissenting votes across all categories indicates consensus on the audited figures for FY26 and the proposed valuation framework for FY27.