SPAs executed for acquisition of 100% of six Gawar highway SPVs

Capital Infra Trust has informed the exchanges that Share Purchase Agreements (SPAs) were executed on October 12, 2026.

Mon 12 Oct 2026

SPA Execution Date

October 12, 2026

Acquisition Scope

100% shareholding of six Gawar group highway SPVs

Seller

Gawar Construction Limited, described as the Sponsor, along with its nominee shareholders

What was announced

Capital Infra Trust (formerly National Infrastructure Trust) has informed NSE and BSE that Share Purchase Agreements (SPAs) were executed on October 12, 2026 for the acquisition of 100% shareholding of six Target SPVs, held by the Seller and its nominee shareholders.

The Target SPVs named in the update

• Gawar Bhiwani Highway Private Limited
• Gawar Kangra Highways Private Limited
• Gawar Pathankot Mandi Highway Private Limited
• Gawar Udaipur Highway Private Limited
• Gawar Waranga Highways Private Limited
• Gawar Rudrapur Highway Private Limited

Who the parties are

• Gawar Construction Limited, described in the update as the Seller or Sponsor.
• Axis Trustee Services Limited, signing as Trustee of Capital Infra Trust.
• Gawar Investment Manager Private Limited, signing as Investment Manager of the Trust.
• The SPAs are with each of the Target SPVs respectively.

Also executed

The Trust has also executed ancillary agreements in addition to the SPAs, in connection with the proposed acquisition.

Other points in the update

• The intimation refers to the postal ballot outcome dated September 09, 2026.
• The disclosure is made under Regulation 23 of the SEBI (Infrastructure Investment Trusts) Regulations, 2014.
• The information is stated to be available on the Trust's website.

How a novice can read this

An InvIT like Capital Infra Trust earns from infrastructure assets it holds. Here, the Trust has moved a step forward by signing agreements to buy the entire shareholding, that is 100%, of six highway-owning companies from the Sponsor group entity.

• The update records that the agreements have been executed, and refers to the acquisition as a proposed acquisition in the context of the ancillary agreements.
• Because the shares in these SPVs would move from the Seller and its nominee shareholders to the Trust, these highway project companies would come into the Trust's fold once the transaction is completed.
• The Trust is the acquirer; the Seller side includes Gawar Construction Limited and its nominee shareholders.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.