Maple Infrastructure Trust has announced the successful completion of its postal ballot process for approving a change in control of its Investment Manager. The voting, conducted exclusively through remote e-voting, concluded on March 29, 2026, with overwhelming support from unitholders.

Voting Process and Timeline

The postal ballot notice was issued on February 26, 2026, with the same date serving as the cut-off date for determining eligible unitholders. The remote e-voting facility commenced on February 28, 2026, at 09:00 hours IST and concluded on March 29, 2026, at 17:00 hours IST.

Voting Results and Participation

The resolution to approve the change in control of the Investment Manager received unanimous support from public unitholders who participated in the voting process. A total of 20 unitholders availed the remote e-voting facility, comprising 2 from the Sponsor & Sponsor Group and 18 from the public category.

Regulatory Compliance and Scrutiny

The voting process was conducted in strict compliance with SEBI Infrastructure Investment Trusts Regulations, 2014, and the SEBI Master Circular dated July 11, 2025. Mr. Jatin Prabhakar Patil, Partner of M/s. Mayekar & Associates, served as the appointed scrutinizer to ensure transparency and fairness in the voting process.

Notably, votes cast by the Sponsor and Sponsor Group were not considered for the resolution in accordance with Regulation 22(2)(d) of the SEBI InvIT Regulations, which explains their exclusion from the final voting tally despite holding 35,45,79,900 units.

Resolution Approval and Implementation

The resolution required approval by requisite majority, defined as at least 60% of total votes cast in favour. With 100% of public votes supporting the resolution, this threshold was comfortably exceeded. The resolution was deemed passed on March 29, 2026, the last date of voting.

Axis Trustee Services Limited, acting as the Trustee of Maple Infrastructure Trust, facilitated the entire process and submitted the voting results to BSE Limited on March 30, 2026. The complete voting results and scrutinizer's report are available on the trust's website at www.maplehighways.com .

Key Stakeholders and Administration

The postal ballot was administered by Axis Trustee Services Limited in its capacity as Trustee, with National Securities Depository Limited providing the e-voting platform. The process involved multiple regulatory filings and compliance requirements, demonstrating the trust's commitment to transparent governance practices in executing this significant corporate action.

Maple Infrastructure Trust has issued a postal ballot notice to unitholders seeking approval for the change in control of its Investment Manager, following the board decisions announced on February 23, 2026. The trust is conducting the approval process through remote e-voting only, with the voting period scheduled from February 28 to March 29, 2026.

Postal Ballot Process and Timeline

Axis Trustee Services Limited, acting as Trustee of Maple Infrastructure Trust, sent the postal ballot notice to all unitholders on February 27, 2026. The notice seeks unitholder approval for the change in control of Maple Infra InvIT Investment Manager Private Limited through remote e-voting facility provided by National Securities Depository Limited.

Transaction Details and Approval Requirements

The postal ballot seeks approval for the acquisition of 63,504,799 equity shares constituting 42.50% of the Investment Manager's equity share capital by MAIF 4 Investments India 2 Pte. Ltd. from Maple Highways Pte. Ltd., pursuant to the share purchase agreement dated December 24, 2025. This transaction will result in the Investment Manager ceasing to be a subsidiary of MHPL.

Post-Transaction Ownership Structure

Upon completion of the transaction, the ownership structure of the Investment Manager will be restructured with three key stakeholders. MHPL and its affiliate are expected to retain 42.50% ownership, while MAIF 4 will hold an equal 42.50% stake, and 360 One Alternates Asset Management Limited will continue holding its existing 15% stake.

Regulatory Framework and Voting Requirements

The change in control requires approval under Regulation 22(5)(a) of the SEBI Infrastructure Investment Trusts Regulations, 2014, where votes cast in favor must constitute at least 60% of total votes cast for the resolution. The transaction also requires approvals from SEBI and other applicable regulatory authorities before completion.

Leadership Appointments

Concurrently with the control change approval, the board had earlier approved the appointment of Ms. Deepika Periwal as Chief Financial Officer and Key Managerial Personnel of the Investment Manager, effective February 23, 2026, based on recommendations from the Nomination and Remuneration Committee and Audit Committee.

The postal ballot notice and related documents are available on the trust's website at www.maplehighways.com , BSE Limited's website, and NSDL's e-voting portal. Results will be declared within two working days of the voting deadline and communicated to BSE Limited simultaneously.