Shrem InvIT declared its 21st distribution of ₹3.0000 per unit for the quarter ended June 30, 2026, signaling continued cash flow generation from its road infrastructure portfolio. The Board of Directors of Shrem Infra Investment Manager Private Limited approved the distribution during a meeting held on August 4, 2026. This payout comprises ₹0.5469 per unit as dividend, ₹1.2547 per unit as interest, and ₹1.1984 per unit as return of capital, subject to applicable taxes. Unitholders can expect payment within five working days from the record date of August 7, 2026.

The approval of the distribution coincided with the board's consideration of the unaudited standalone and consolidated financial statements for the quarter ended June 30, 2026. The board also reviewed the Limited Review Report issued by the Statutory Auditors. Additionally, the investment manager submitted a nil report regarding any deviation or variation in the utilization of funds raised for the quarter, ensuring compliance with regulatory requirements under Regulation 10(21) of the SEBI (InvIT) Regulations, 2014.

A key development during the quarter involved the strategic decision to halt a proposed acquisition. The board decided not to pursue the acquisition of two Special Purpose Vehicles (SPVs) jointly owned by APCO Infratech Private Limited and Chetak Enterprises Limited. This decision reverses earlier plans outlined in a term sheet executed in March 2024, allowing the trust to preserve capital and focus on its existing operational assets.

The valuation of Shrem InvIT’s assets was conducted by Registered Valuer CA Jayeshkumar Shah, who determined the Net Asset Value (NAV) as of June 30, 2026. The valuation report highlights a fair value NAV of ₹92.77 per unit, compared to a book value NAV of ₹64.91 per unit. This premium reflects the market-based assessment of the underlying infrastructure assets, which include 37 road projects across nine Indian states.

Key Financial Metrics

The following table outlines the net asset values attributable to unitholders based on the valuation report dated June 30, 2026:

What the Numbers Show

The divergence between the book value NAV of ₹64.91 and the fair value NAV of ₹92.77 indicates that the market value of Shrem InvIT’s infrastructure assets exceeds their accounting value by approximately 43%. This premium is typical for InvITs holding long-term concession assets like highways, where future cash flows from annuities and tolls are valued higher than historical cost bases. The nil deviation in fund utilization further reinforces the trust’s disciplined approach to capital allocation, ensuring that investor funds are deployed strictly as intended without unauthorized diversions.

Unitholders of Shrem Infrastructure (operating through Shrem Infra Investment Manager Private Limited) appointed Mr. Jayesh Shah as the registered valuer for Shrem InvIT and all its Project Special Purpose Vehicles (SPVs). The decision was taken at the 5th Annual General Meeting held on July 28, 2026, ensuring independent valuation oversight for the infrastructure investment trust’s assets in compliance with regulatory mandates.

The appointment was made in accordance with Regulation 10(5) and Regulation 22 of the SEBI (Infrastructure Investment Trusts) Regulations, 2014. It also aligns with SEBI Master Circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/102 dated July 11, 2025, which governs the valuation framework for infrastructure trusts. This procedural step ensures that the trust maintains an independent valuation mechanism for its underlying assets, a critical requirement for pricing units and assessing net asset value.

Mr. Jayesh Shah holds IBBI registration number IBBI/RV/07/2020/13066 as a Registered Valuer. His tenure begins from the conclusion of the Annual General Meeting on July 28, 2026, and extends until the conclusion of the next Annual General Meeting to be held for the financial year 2026-27. This fixed-term appointment provides continuity in valuation processes while allowing unitholders to review and reappoint the valuer annually.

Key Appointment Details

The intimation was submitted to the Listing Department of the National Stock Exchange of India Limited on July 29, 2026. Kunal Trivedi, Company Secretary and Compliance Officer of Shrem Infra Investment Manager Private Limited, signed the communication. Axis Trustee Services Limited was also copied on the submission, reflecting the collaborative governance structure between the investment manager, trustee, and regulatory bodies.

Regulatory Compliance Context

The appointment underscores Shrem InvIT’s adherence to the SEBI (Infrastructure Investment Trusts) Regulations, which mandate independent valuation of assets to protect unitholder interests. By specifying the tenure until the next AGM for FY27, the trust ensures that valuation activities remain aligned with annual reporting cycles. This structure allows for regular assessment of asset performance and market conditions by a qualified professional, maintaining transparency in the trust’s financial reporting.