POWERGRID Infrastructure Investment Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
PGInvIT has received partial regulatory relief from SEBI. SEBI, via letter dated February 16, 2026, granted relaxation till March 31, 2026 from the requirement to have unitholder nominee directors on the board, as per the relevant SEBI circular on InvITs. However, SEBI declined PGInvIT's separate request to extend relaxation from compliance with corporate governance norms (specifically the requirement of independent directors) on the board of its Investment Manager, POWERGRID Unchahar Transmission Limited (PUTL). Since PUTL is a government company (subsidiary of Power Grid Corporation of India Limited), the power to appoint independent directors lies with the Ministry of Power, Government of India. PUTL has stated it is in continuous touch with the Ministry and will update the exchanges on any developments.
Short-term, the temporary relief on unitholder nominee directors removes an immediate governance obligation. However, the denial of relaxation on independent director norms means PGInvIT must work with the Ministry of Power to get independent directors appointed on PUTL's board, which could become a compliance overhang if not resolved before March 31, 2026.