Highway Infrastructure Limited Extends Timeline for IPO Proceeds Utilisation to 31 May 2026

Highway Infrastructure Limited has announced an extension of the deadline for utilising its Initial Public Offer (IPO) proceeds, pushing the timeline from 31 March 2026 to 31 May 2026. The decision was approved through resolutions passed by the Audit Committee on 11 May 2026 and the Board of Directors on 13 May 2026, pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company cited operational, business, and implementation reasons for the extension.

IPO Proceeds Overview

The company raised funds through its IPO as per the Prospectus dated 08 August 2025. After deducting IPO expenses, the net proceeds available for deployment stood at Rs. 828.84 million. The following table summarises the IPO proceeds structure:

Particulars:	Amount (Rs. in million)
Gross Proceeds from IPO:	975.20
Less: IPO Expenses:	146.36
Net Proceeds Available:	828.84
Actual Proceeds received in monitoring account:	828.84

Utilisation of IPO Proceeds — Q4 FY26

The company disclosed the end-use details of the IPO proceeds in Annexure I filed alongside the regulatory announcement. As of the quarter ended March 2026, Highway Infrastructure had utilised Rs. 831.55 million in aggregate, which exceeds the net proceeds due to interest income of Rs. 3.53 million earned on funds temporarily invested in permissible Fixed Deposits. A balance of Rs. 0.82 million remains in the monitoring account as on 31 March 2026, which the company has stated will be utilised in the next quarter.

The detailed utilisation across the identified heads is presented below:

Item Head:	Amount Proposed in Offer Document (Rs. in million)	Amount Raised till December 31, 2025 (Rs. in million)	Utilised at Beginning of Quarter (Rs. in million)	Utilised During Quarter (Rs. in million)	Utilised at End of Quarter (Rs. in million)	Unutilised Amount (Rs. in million)
Working Capital for EPC:	400.00	222.53	222.53	1.82	224.35	-
Working Capital for Toll:	250.00	585.02	585.02	-	585.02	-
General Corporate Purposes:	178.84	21.10	21.10	1.08	22.18	0.82
Total:	828.84	828.65	828.65	2.90	831.55	0.82

Regulatory Compliance and Next Steps

The announcement was made in compliance with SEBI's listing regulations, and the complete end-use details have been submitted to both BSE Limited and the National Stock Exchange of India Ltd. The remaining unutilised balance of Rs. 0.82 million, currently held under the General Corporate Purposes head, is expected to be deployed in the subsequent quarter. The disclosure was signed by Palak Rathore, Company Secretary and Compliance Officer (Membership No.: A-73755), on 13 May 2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.58%	-3.44%	+0.24%	-27.92%	-58.18%	-58.18%

Highway Infrastructure Limited has officially announced the successful completion of its postal ballot process, with shareholders approving crucial alterations to the company's Memorandum of Association (MOA) and Articles of Association (AOA). The company filed its regulatory disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirming strong stakeholder support for the proposed structural changes.

Official Regulatory Announcement

The company submitted its formal announcement to BSE Limited and National Stock Exchange of India Ltd on April 13, 2026, following the Board of Directors' earlier approval on March 06, 2026. Company Secretary Palak Rathore confirmed that both special resolutions were duly approved by members through the postal ballot process.

Parameter:	Details
Filing Date:	April 13, 2026
Scrip Symbol:	HILINFRA
Scrip Code:	544477
ISIN:	INE00RL01028
Board Approval Date:	March 06, 2026
E-voting Period:	March 13 - April 11, 2026

Key MOA Alterations Approved

The shareholders approved significant additions to Clause III A of the Memorandum of Association, expanding the company's business scope substantially. The new Clause III A (5) enables the company to develop and operate diverse infrastructure facilities including hotels, hospitals, business parks, renewable energy projects, and EV charging stations.

Major Business Expansion Areas

Business Segment:	New Capabilities
Hospitality & Events:	Hotels, restaurants, banquet halls, marriage gardens
Healthcare & Wellness:	Hospitals, healthcare centers, yoga centers, rehabilitation facilities
Commercial Infrastructure:	Business parks, IT parks, logistics parks, industrial parks
Renewable Energy:	Solar parks, wind farms, hybrid renewable projects
Transportation:	EV charging stations, battery-swapping stations, airports, ports

The new Clause III A (6) specifically focuses on toll collection and management operations, allowing the company to collect tolls and user charges on highways, expressways, bridges, and other infrastructure projects through various partnership models.

AOA Modifications and Corporate Governance

The approved AOA alterations include three key changes to enhance corporate governance structure. The company deleted provisions related to the Common Seal (Clauses 1(xxiv) and 145) and redrafted Clause 96 to clearly define the promoter directors.

AOA Change:	Details
Common Seal Provisions:	Deleted from Clauses 1(xxiv) and 145
Promoter Directors:	Mr. Anoop Agrawal, Mr. Arun Kumar Jain, Mr. Riddharth Jain
Board Structure:	Clause 96 redrafted for clarity

Regulatory Compliance and Documentation

The company demonstrated comprehensive regulatory compliance by providing detailed annexures outlining all proposed changes. The announcement referenced the earlier intimation filed on March 09, 2026, regarding the Notice of Postal Ballot, ensuring complete transparency throughout the process.

The voting results will be separately announced upon receipt of the Scrutinizer's Report as per Regulation 44(3) of SEBI Listing Regulations. All documentation and updates are available on the company's website at www.highwayinfrastructure.in , maintaining transparency standards required under SEBI regulations.