Powergrid Infrastructure Investment Trust is seeking unitholder approval to appoint M/s. IndiaAppraisers.com Pvt. Ltd (IAPL) as its independent valuer for a two-year term covering FY27 and FY28. The trust initiated a postal ballot through remote e-voting to secure this mandate, which is required under Securities and Exchange Board of India (SEBI) regulations following the completion of the previous valuer's maximum tenure. Unitholders holding units as of the July 31, 2026 cut-off date are eligible to vote, with the e-voting window open from August 4, 2026, at 9:00 A.M. (IST) until August 24, 2026, at 5:00 P.M. (IST). The outcome of the ballot will determine the valuation partner responsible for assessing the trust’s Special Purpose Vehicles (SPVs) and assets for the next two fiscal years.

The appointment process was triggered by Regulation 21(9) of the SEBI (Infrastructure Investment Trusts) Regulations, 2014, which mandates that a valuer cannot undertake valuation for the same project for more than four consecutive years. M/s INMACS Valuers Private Limited served as the valuer from FY23 to FY26. Following a bidding process and recommendation from the Audit Committee on July 28, 2026, the Board of Directors of Powergrid Unchahar Transmission Limited, the investment manager, approved IAPL’s appointment subject to unitholder consent. The resolution requires a simple majority for passage.

The remuneration structure for IAPL is fixed per SPV instance and varies by valuation frequency. The fees are inclusive of all charges except applicable Goods and Services Tax (GST), which will be billed separately.

IAPL, registered with the Insolvency and Bankruptcy Board of India (IBBI) under number IBBI/RV-E/07/2020/129, is authorized to conduct valuations across land and building, plant and machinery, and securities or financial assets. The firm brings over three decades of experience in providing independent valuation opinions. The voting rights are proportional to the units held in the PGInvIT unit capital as of the cut-off date. Unitholders may cast their votes via the depositories’ e-voting systems or directly through KFin Technologies Limited’s platform.

Procedural Details and Voting Mechanism

The postal ballot is being conducted pursuant to Regulations 22 and 23 of the InvIT Regulations and SEBI Master Circular No. SEBI/HO/DDHS-PoD-2/P/CIR/2025/102 dated July 11, 2025. CS Arvind Kohli of M/s. Arvind Kohli & Associates has been appointed as the scrutinizer to ensure a fair and transparent voting process. The scrutinizer will submit the final report to the Chairman of the Investment Manager after the voting period closes. The results will be announced on or before August 26, 2026, and filed with the National Stock Exchange of India Limited and BSE Limited. Additionally, the results will be published on the PGInvIT website and the KFin Technologies e-voting portal.

Unitholders are advised that once a vote is cast, it cannot be modified. Institutional unitholders must submit scanned copies of board resolutions or authority letters along with attested specimen signatures to the scrutinizer via email. For technical assistance with e-voting, unitholders can contact KFin Technologies at 1800-309-4001 or refer to the help manuals available on the e-voting website. The notice confirms that no directors or key managerial personnel of the investment manager have any interest in the proposed resolution.

Unitholders of powergrid infrastructure Infrastructure Investment Trust (PGInvIT) have approved the trust’s audited financial statements and asset valuation reports for the fiscal year ended March 31, 2026. The resolutions were passed via simple majority vote during the Fifth Annual Meeting of Unitholders, conducted through video conferencing on July 28, 2026. This approval formalizes the trust’s financial position and asset values for FY26, providing transparency to investors regarding the performance of the underlying infrastructure assets.

The meeting was convened pursuant to Regulation 22 of the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, read with Master Circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/102 dated July 11, 2025. Shri Naveen Srivastava, Chairman of the Investment Manager, declared the meeting quorate after noting the attendance of 27 unitholders representing 13,66,99,660 units. The proceedings were overseen by CS Arvind Kohli of M/s Arvind Kohli & Associates, who served as the scrutinizer for the meeting.

Key Resolutions Approved

The unitholders voted on two primary items of business, both requiring a simple majority:

The statutory auditors, M/s. S.K. Mittal & Co., Chartered Accountants, presented their reports on the financial statements, which were taken as read by the unitholders. The independent valuer, M/s. INMACS Valuers Private Limited, had previously issued the valuation report for the trust’s special purpose vehicles, which was subsequently adopted by the unitholders.

Voting Results and Participation

The consolidated results show near-unanimous support for both resolutions. For the adoption of financial statements, 99.9932% of votes polled were in favor, while 0.0068% were against. Similarly, for the valuation report, 99.9931% of votes were in favor, with 0.0069% against. The total number of units held as on the cut-off date of July 21, 2026, was 90,99,99,200, out of which 30,79,82,859 votes were polled, representing a 33.84% participation rate.

The Sponsor and Sponsor Group held 13,65,00,100 units and voted 100% in favor of both resolutions. Public institutions held 20,46,00,152 units, with 82.45% participation, all voting in favor. Public non-institutions held 56,88,98,948 units, with a lower participation rate of 0.49%, but still showed strong support with over 99% in favor.

Meeting Proceedings and Governance

The Investment Manager, Powergrid Unchahar Transmission Limited, facilitated remote e-voting from July 25, 2026, at 09:00 A.M. (IST) until July 27, 2026, at 05:00 P.M. (IST). Unitholders who did not vote remotely could cast votes via the InstaPoll e-voting system during the meeting. The cut-off date for exercising voting rights was July 21, 2026.

Key Managerial Personnel present included Shri K Nagraj Bhat, Chief Executive Officer, and Shri Gaurav Malik, Chief Financial Officer. The Board of Directors of the Investment Manager included Shri Naveen Srivastava, Dr. Anupam Arora, Smt. Anita Soren, Shri Sanjay Sharma, and Shri Amit Garg. IDBI Trusteeship Services Limited served as the Trustee for the meeting.

The consolidated results of the remote and live e-voting, along with the Scrutinizer’s Report, are scheduled to be submitted to the National Stock Exchange of India Limited and BSE Limited on or before July 30, 2026. The results will also be published on the PGInvIT website and the KFintech portal.