Indus Infra Trust (formerly Bharat Highways InvIT) has informed stock exchanges about the resignation of Mr. Sibanarayan Nayak as Director of GR Highways Investment Manager Private Limited, the Investment Manager to the InvIT. The resignation became effective on December 30, 2025, following his email submission on the same date citing personal and professional reasons.

Regulatory Compliance and Timeline

The intimation was made in accordance with Regulation 23(6) of the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, along with related circulars and guidelines. The resignation will be formally placed before the Board of Directors at the next Board Meeting for official acknowledgment.

Vacancy Filling Requirements

Pursuant to Regulation 26H of the SEBI InvIT Regulations, the Investment Manager is required to fill the resulting vacancy at the earliest opportunity. The regulatory framework mandates that the position must be filled within three months from the date of vacancy, establishing a deadline of March 30, 2026.

Corporate Structure and Communication

Indus Infra Trust operates through its Investment Manager, GR Highways Investment Manager Private Limited. The company secretary and compliance officer, Mohnish Dutta (M. No. FCS 10411), signed the official intimation to the stock exchanges. The trust maintains offices in Gurugram and Mumbai, with IDBI Trusteeship Services Limited serving as the trustee.

Stock Exchange Listing Details

The InvIT is listed on both major Indian stock exchanges with the following trading parameters:

The intimation has been uploaded on the InvIT's official website at www.indusinvit.com , ensuring transparency and accessibility for stakeholders and investors.

G R Infraprojects has successfully completed the transfer of its wholly owned subsidiary GR Bahadurganj Araria Highway Private Limited to Indus Infra Trust on December 30, 2025. The company informed stock exchanges about the completion of the transaction, which was originally agreed upon through a Share Purchase Agreement on December 29, 2025.

Transaction Completion and Regulatory Compliance

Following the receipt of consideration from Indus Infra Trust, G R Infraprojects confirmed that GBAHPL would cease to be its wholly owned subsidiary with effect from December 30, 2025. The transaction was completed in compliance with Regulation 30 and other applicable regulations of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Financial Contribution and Asset Profile

GR Bahadurganj Araria Highway Private Limited contributed ₹238.48 crore (3.14%) to G R Infraprojects' consolidated income and ₹38.41 crore (0.45%) to consolidated net worth as of March 31, 2025. The subsidiary operates a strategic 44.98 km four-lane highway section (NH-327E) on the Bahadurganj-Araria route in Bihar under the Hybrid Annuity Mode.

Related Party Transaction Details

The transaction was classified as a related party transaction since Indus Infra Trust is a related party of G R Infraprojects. However, the company confirmed that the transaction was conducted at arm's length pricing. Indus Infra Trust, headquartered at Seventh Floor, GR One Tower, Plot No. 7B, Sector 18, Gurugram, Haryana, does not belong to the promoter/promoter group/group companies of G R Infraprojects Limited.

Strategic Impact

The disposal represents the successful execution of G R Infraprojects' strategic divestment plan, with the subsidiary being classified as non-material prior to the transfer. The transaction strengthens Indus Infra Trust's highway asset portfolio while allowing G R Infraprojects to optimize its subsidiary structure. The highway asset, incorporated on March 11, 2021, operates as part of the Bharatmala Pariyojana initiative with a 15-year operation period.