Highway Infrastructure Limited Completes Postal Ballot for Independent Director Appointment

Highway Infrastructure Limited has successfully concluded its postal ballot process for the appointment of Mr. Vinayak Parkhi as Non-Executive Independent Director. The remote e-voting concluded on January 14, 2026, with overwhelming shareholder approval for the proposed resolution.

Voting Results and Participation

The postal ballot received strong participation from shareholders across all categories. The voting statistics demonstrate significant shareholder engagement in the corporate governance process.

Parameter:	Details
Total Shareholders on Record:	63,582
Voting Period:	December 15, 2025 to January 14, 2026
Total Shares Outstanding:	71,720,632
Shares Participated in Voting:	53,248,982
Participation Rate:	74.24%

Resolution Approval Details

The special resolution for Mr. Vinayak Parkhi's appointment (DIN: 11220908) as Non-Executive Independent Director received exceptional support from shareholders. The voting breakdown shows strong confidence across all shareholder categories.

Category:	Shares Voted	Votes in Favor	Votes Against	Approval Rate
Promoter & Promoter Group:	50,231,344	50,231,344	0	100.00%
Public Non-Institutions:	3,017,638	3,014,909	2,729	99.91%
Public Institutions:	0	0	0	0.00%
Overall Total:	53,248,982	53,246,253	2,729	99.99%

Regulatory Compliance and Process

The postal ballot process was conducted in accordance with Section 110 of the Companies Act, 2013, and Regulation 44 of SEBI Listing Regulations. M. Maheshwari & Associates, Company Secretaries, served as the scrutinizer for the e-voting process, ensuring transparency and compliance.

Key process highlights include:

Remote e-voting facility provided by Central Depository Services (India) Limited
Notice issued to shareholders on December 10, 2025
Public advertisements published in Times of India (English) and Choutha Sansar (Hindi)
Scrutinizer's report dated January 16, 2026, confirming the validity of the process

Technical Adjustments and Timeline

The company made necessary adjustments to the voting timeline due to technical formalities. Originally scheduled to commence on December 13, 2025, the e-voting period was revised through a corrigendum to begin on December 15, 2025, at 11:50 AM IST and conclude on January 14, 2026, at 5:00 PM IST.

The scrutinizer, Manish Maheshwari (FCS 5174, CP 3860), conducted the vote counting process on January 15, 2026, in the presence of two independent witnesses, ensuring the integrity of the electoral process. The voting results and scrutinizer's report have been uploaded on the company's website at www.highwayinfrastructure.in for shareholder reference.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.40%	-8.52%	-10.00%	-54.47%	-54.47%	-54.47%

Highway Infrastructure Limited has received the formal acceptance letter for its major infrastructure development contract worth ₹69.69 crores from the Indore Development Authority (IDA). The company had previously announced this significant order win through a regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and has now confirmed receipt of the official acceptance letter.

Contract Details and Scope

The awarded contract encompasses the development of road infrastructure under Town Planning Scheme-08, covering the route from Kumedi to Lasudiya Mori (up to A.B. Road) in Indore. The project represents a comprehensive road development initiative in one of Madhya Pradesh's key urban centers.

Parameter:	Details
Contract Value:	₹69,68,72,954.73 plus applicable GST
Awarding Authority:	Indore Development Authority (IDA)
Project Type:	Road development under Town Planning Scheme-08
Execution Timeline:	30 months
Project Location:	Kumedi to Lasudiya Mori (up to A.B. Road), Indore
Status:	Acceptance letter received

Performance Security Requirements

The contract includes substantial performance security obligations that demonstrate the project's significance and the authority's commitment to ensuring timely completion. The company must provide multiple layers of security coverage throughout the project duration.

Security Type:	Amount	Validity Period
Performance Security (5%):	₹3,48,43,648.00	Contract period plus 3 months
Additional Performance Security (7.87%):	₹6,67,76,941.00	Completion time plus 3 months
Total Security Required:	₹10,16,20,589.00	As per respective terms

Regulatory Compliance and Project Status

With the receipt of the acceptance letter, the company has moved closer to project commencement. The company has fulfilled all mandatory disclosure requirements under SEBI regulations, confirming that this is a domestic contract with no related party implications. Key regulatory aspects include:

No promoter or promoter group interest in the awarding entity
Contract does not fall under related party transactions
Full compliance with SEBI Master Circular dated November 11, 2024
Domestic entity classification for the awarding authority
Formal acceptance letter now received from IDA

Strategic Significance

The receipt of the acceptance letter marks a significant milestone for Highway Infrastructure Limited, confirming the project's progression toward execution. This contract reinforces the company's position in the regional infrastructure development sector. The 30-month execution timeline provides the company with substantial revenue visibility, while the project's location in Indore aligns with the company's operational base in Madhya Pradesh. The substantial contract value of nearly ₹70 crores represents a significant addition to the company's order book and demonstrates its capability to secure major municipal infrastructure projects.