The Capital Infra Trust InvIT made a flat market debut on Friday, listing at par with the issue price of ₹99. Although it hit a low of ₹98.80 and a high of ₹99.49 during the day, it eventually closed at ₹99.01 on the BSE and ₹99.02 on the NSE. The IPO of Capital Infra Trust was subscribed nearly 2.80 times, with a price band of ₹99-100 per unit.
The company raised ₹1,077 crore through a fresh issue of units and an offer for sale (OFS) of units valued at ₹501 crore by the sponsor selling unitholder Gawar Construction Ltd. The net proceeds from the IPO will be used to provide loans to the Project SPVs for repayment of outstanding loans and repayment of unsecured loans availed by the Project SPVs from the sponsor.
Gawar Construction is involved in the construction of road and highway projects across 19 states in India for various government/semi-government bodies and statutory authorities. The company has a strong track record in delivering infrastructure projects and is expected to benefit from the growth in the infrastructure sector in India.
Overall, the listing of Capital Infra Trust InvIT marks a positive development in the infrastructure investment space, providing investors with an opportunity to participate in the growth of the sector. With a strong sponsor and a robust project pipeline, the trust is well-positioned to deliver value to its unitholders in the coming years.
