Indus Infra Trust has announced the acquisition of 100% equity shareholding in GR Bahadurganj Araria Highway Private Limited (GBAHPL) from G R Infraprojects Limited for an aggregate consideration of ₹1,980.80 million. This acquisition adds a 44.98 km highway asset in Bihar to the Trust's portfolio.

Acquisition Details

The acquisition involves the purchase of 9,00,00,000 fully paid-up equity shares of ₹10 each, representing 100% of the issued, subscribed and paid-up share capital of GBAHPL. Additionally, the Trust will refinance the unsecured shareholder loan infused by the seller in GBAHPL.

Asset Specifications

GBAHPL owns and operates a four-lane highway comprising the Bahadurganj-Araria section of NH-327E from Km 49.000 to Km 93.983 (Package-II) in Bihar under the Bharatmala Pariyojana of the Government of India. The project operates on Hybrid Annuity Mode (HAM) basis.

Related Party Transaction Framework

The acquisition qualifies as a related party transaction since G R Infraprojects Limited currently holds 43.56% units of the InvIT and has significant influence according to Indian Accounting Standard 24. However, unitholder approval is not required as the total value of all related party transactions during financial year 2025-26 for asset acquisition does not exceed five percent of the Trust assets value.

Strategic Impact and Approvals

The acquisition aligns with Indus Infra Trust's investment strategy and is expected to be yield accretive to unitholders, ensuring stable distribution and increasing the weighted average life of the InvIT by approximately 0.23 years. GBAHPL has received the No Objection Certificate from National Highways Authority of India for the transfer of 100% shareholding from G R Infraprojects Limited to Indus Infra Trust.

GBAHPL was incorporated on March 11, 2021, and operates exclusively in India's infrastructure sector focusing on highway development and operations under government infrastructure programs.

The Board of Directors of GR Highways Investment Manager Private Limited, acting as the Investment Manager to the Trust, approved this related party transaction on December 29, 2025.

Indus Infra Trust , formerly known as Bharat Highways InvIT, has announced the formation of a new Investment Committee as part of its governance structure. The decision was made by the Board of Directors of GR Highways Investment Manager Private Limited, which acts as the Investment Manager for the trust.

Committee Composition

The newly constituted Investment Committee comprises four members:

Notably, three out of the four committee members hold positions as independent directors, ensuring a strong independent oversight in the committee's decision-making process.

Regulatory Compliance

This development was disclosed in accordance with Regulation 23 of the SEBI (Infrastructure Investment Trusts) Regulations, 2014. The formation of the Investment Committee demonstrates Indus Infra Trust's commitment to robust governance practices and strategic investment management.

Trust Details

Indus Infra Trust focuses on infrastructure investments. The trust is managed by GR Highways Investment Manager Private Limited, which oversees its operations and investment strategies.

The establishment of this Investment Committee with a majority of independent members is likely to enhance the trust's decision-making processes and potentially boost investor confidence in its governance structure.

Mohnish Dutta, Company Secretary & Compliance Officer (ICSI M. No. FCS 10411), has officially communicated this development to the stock exchanges on behalf of Indus Infra Trust.

This strategic move underscores the trust's focus on maintaining high standards of corporate governance and ensuring that investment decisions are made with independent oversight, which is crucial in the infrastructure investment sector.