Maple Infrastructure Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Maple Infrastructure Trust has issued a postal ballot notice seeking unitholder approval on five matters via remote e-voting from October 17 to November 12, 2025. The key items are: (1) acquisition of five toll road assets from Ashoka Concessions Limited and its group companies at an enterprise value of approximately INR 49,775 million (about Rs 4,977 crore), acquiring roughly 100% equity in five target SPVs; (2) issuance of up to 12.06 crore units on a preferential basis at INR 145.6 per unit, aggregating up to about INR 17,560 crore, with the sponsor Maple Highways Pte Ltd subscribing to about 7.5 crore of these units (nearly 75% of the issue) and the rest going to 19 non-sponsor entities; (3) approval of the Third Amended and Restated Investment Management Agreement; (4) change in use of proceeds from the 2022 private placement, redirecting INR 9,100 million toward the new acquisitions and related loan/equity infusion into the target SPVs and Shree Jagannath Expressways; and (5) approval of an amended Distribution Policy.
If approved, this is a sizeable acquisition that grows the trust's toll-road portfolio but will be largely financed by a big new unit issuance, which could meaningfully dilute existing unitholders since the sponsor is taking the bulk of the new units. Unitholders should weigh the long-term revenue boost from the new assets against the dilution and the change in how earlier IPO proceeds will now be used. Voting closes on November 12, 2025, and approval requires simple majority for some items and 60% majority for others.