Trust
Highways Infrastructure Trust (the Trust) is an Infrastructure Investment Trust (InvIT), established under Indian Trusts Act, 1882, with the objective of undertaking investment activities as an InvIT. The Trust was registered as an InvIT under SEBI InvIT Regulations on December 23, 2021, having registration number IN/InvIT/21-22/0019.
Investment Manager
Highway Concessions One Private Limited (“Investment Manager”) is the Investment Manager of the Highways Infrastructure Trust with effect from November 22, 2022. The Investment Manager was incorporated in India as a private limited company on September 23, 2010, under the Companies Act, 1956, with corporate identification number U45200MH2010PTC208056. The Investment Manager’s registered office and address for correspondence is Unit 601-602, 6th floor, Windsor House, Off CST Road, Kalina, Santacruz (E), Mumbai 400 098, Maharashtra, India.
As per the provisions of the Investment Management Agreement, the Investment Manager is empowered to:
- Take all decisions in relation to the management and administration of the Trust’s assets and the investments of the Trust
- Oversee the activities of the Project Manager in terms of the InvIT Regulations and applicable Laws
- Issue and allot units, accept subscriptions to Units of the Trust, and issue, transfer units to Unitholders or such other persons and undertake all related activities
- Focussed teams engaged in asset management, M&A, capital raising, compliance, engineering and finance & accounting etc.
Project Manager
HC One Project Manager Private Limited (“Project Manager”) is the Project Manager of the Highways Infrastructure Trust appointed pursuant to the project management agreement entered into amongst the Project Manager, the Trustee and the Investment Manager. The Project Manager was incorporated as a private limited company in India on September 20, 2022 under the provisions of the Companies Act, 2013, with the corporate identification number U74140MH2022PTC390762. The Project Manager’s registered office and address for correspondence is Unit 601-602, 6th floor, Windsor House, Off CST Road, Kalina, Santacruz (E), Mumbai 400 098, Maharashtra, India.
As per the provisions of the Project Management Agreement, the Project Manager is empowered to:
- Exercise diligence and vigilance in carrying out its duties and protecting the commercial interests of the Project SPVs
- Comply with the InvIT Regulations and take all actions as may be required to be taken in accordance with the InvIT Regulations as applicable to the Project Manager
- Keep the Investment Manager informed on all matters which have or may have a material bearing on the operations of the Project SPVs
- Where required, liaison with governmental agencies in respect of its obligations under this Project Management Agreement as applicable to the Project Manager
- Take all reasonable steps to mitigate the risks which may be encountered by the Highways Trust in respect of the Project SPVs
- Ensure compliance with applicable laws by the Project SPVs etc.
Trustee
Axis Trustee Services Limited is the Trustee of the Highways Infrastructure Trust. The Trustee is a registered intermediary with SEBI under the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993, as a debenture trustee since January 31, 2014, having registration number IND000000494. The Trustee’s registered office is Axis House, Bombay Dyeing Mills Compound, Pandhurang Budhkar Marg, Worli Mumbai 400 025, Maharashtra, India. The Trustee’s address for correspondence is The Ruby, 2nd Floor, SW, 29 Senapati Bapat Marg, Dadar West, Mumbai 400 028, Maharashtra, India.
The Trustee is a trusteeship company which has been registered with SEBI as a Debenture Trustee and has been promoted by Axis Bank Limited for providing corporate and other trusteeship services. The Trustee is a wholly-owned subsidiary of Axis Bank Limited. The Trustee also acts as a security trustee and is involved in providing services in relation to security creation, compliance and holding security on behalf of lenders. The Trustee is also authorised to provide services such as: (i) a facility agent for complex structured transactions; (ii) an escrow agent; (iii) a trustee to alternative investment funds and venture capital funds; (iv) custodian of documents as a safe-keeper; and (v) a trustee to real estate investment trust, etc.