Sponsor & Project Manager

Aadharshila Infratech Private Limited (“AIPL”) is the Sponsor and the Project Manager of Bharat Highways InvIT.

AIPL was incorporated on June 30, 2010 under the Companies Act, 1956 as a private limited company.

AIPL has set up a laboratory at its registered address which is accredited with National Accreditation Board for Testing and Calibration Laboratories for the discipline of chemical, mechanical and non-destructive testing.

AIPL offers/ carries out testing services in the field of transportation engineering and has expertise in NSV survey, FWD survey, pavement design of roads and airports, physical and chemical testing of soil, lime, cement, road roughness testing, concrete and bituminous mix design of road projects.

AIPL has an established track record of physical and chemical testing of soil and other material (cement testing, fly ash, bitumen emulsion, aggregate testing) at its laboratory accredited by NABL, which enables it to determine the appropriate material mix for development of bituminous and concrete road projects. Further, its capability to assess the roughness and balance life of road projects allows it to determine the appropriate maintenance activity to be undertaken on the road projects.

Further, Nagaur Mukundgarh Highways Private Limited (“NMHPL”), the associate of the AIPL is a road engineering, procurement, and construction company, with experience in design and construction of various road/highway projects. NMHPL has over six years of experience in the execution of infrastructure projects since 2017.

Investment Manager

GR Highways Investment Manager Private Limited (“GRHIMPL”) is the Investment Manager of Bharat Highways InvIT.

The Investment Manager has been incorporated on March 23, 2022 and is a wholly owned subsidiary of the Lokesh Builders Private Limited, with Corporate Identification Number U65999HR2022PTC102221. .


IDBI Trusteeship Services Limited (the “Trustee”) has been appointed as the trustee of the Trust in accordance with the provisions of the InvIT Regulations. The Trustee is registered with SEBI as a debenture trustee under the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993 (Registration Number: IND000000460).

The Trustee jointly promoted by IDBI Bank Limited, Life Insurance Corporation and General Insurance Corporation for providing corporate and other trusteeship services.

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 inter alia 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 funds.