Vertis Trust unitholders approve conversion to public InvIT
Vertis Infrastructure Trust unitholders have approved the conversion to a public listed InvIT and the third amended Trust Deed. The resolutions passed with 100% of the polled votes in favour, totaling over 125.98 crore units.
*this image is generated using AI for illustrative purposes only.
Vertis Infrastructure Trust has announced the outcome of its postal ballot and remote e-voting process, confirming that unitholders have approved the conversion of the Trust from a private listed infrastructure investment trust to a public listed infrastructure investment trust. The voting process, which commenced on April 28, 2026, concluded on May 20, 2026, with the requisite majority secured for all proposed resolutions.
The Investment Manager, Vertis Fund Advisors Private Limited, had sought approval for two key resolutions. The first resolution proposed the conversion of the Trust to a public listed entity pursuant to a public offer of units through an offer for sale. The second resolution sought approval for the third amended and restated Trust Deed. Both resolutions required a special majority, with the first needing a 75% majority by value and the second requiring a 60% majority of unitholders present and voting.
According to the scrutinizer's report submitted by M/s. MMJB & Associates LLP, the resolutions were passed with overwhelming support. A total of 1,25,98,35,248 votes were polled, representing 83.4337% of the outstanding units. All votes cast were in favour of the resolutions, with no votes recorded against them. The voting was conducted entirely through remote e-voting, as no postal ballot forms were received.
The following table summarizes the voting results for the resolutions:
| Sr. No. | Category | Votes Polled | Votes In Favour | Votes Against | % In Favour |
|---|---|---|---|---|---|
| 1 | Sponsor(s)/ Sponsor Group | 87,21,14,250 | 87,21,14,250 | 0 | 100.0000 |
| 2 | Public - Institutional holders | 38,73,70,998 | 38,73,70,998 | 0 | 100.0000 |
| 3 | Public - Non Institutional holders | 3,50,000 | 3,50,000 | 0 | 100.0000 |
| Total | 1,25,98,35,248 | 1,25,98,35,248 | 0 | 100.0000 |
The scrutinizer confirmed that the resolutions were declared passed on May 20, 2026. The detailed report has been uploaded to the Trust's website. The approval marks a significant step in the Trust's corporate evolution, facilitating its transition to a public listed platform.
What is the expected timeline for Vertis Infrastructure Trust to complete its IPO process and list as a public entity on the stock exchanges?
How might the conversion to a public listed InvIT affect Vertis Infrastructure Trust's ability to raise capital and expand its infrastructure asset portfolio?
What valuation premium or discount could Vertis Infrastructure Trust command compared to existing publicly listed InvITs like IndiGrid or PowerGrid InvIT post-listing?
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