Capital Infra Trust’s IPO has garnered moderate interest, with bids at 0.78 times the total units on offer. The IPO, priced at ₹99-100 per unit, received bids for 6.86 crore units against 8.84 crore units available. The ₹1,578-crore IPO includes fresh shares worth ₹1,077 crore and an offer-for-sale of ₹501 crore by the sponsor-selling unitholder, Gawar Construction Ltd. The IPO will close on January 9, marking the first InVIT offering in 2025.
Prior to the IPO, Capital Infra Trust raised ₹703 crore from anchor investors, including domestic mutual funds and insurance companies. The anchor round saw participation from various entities, such as Quant Mutual Fund, HDFC MF, Axis MF, Kotak MF, and others. The net proceeds from the IPO will be used to provide loans to Project SPVs for repayment/prepayment of outstanding loans and unsecured loans.
Established as an infrastructure investment trust, Capital Infra Trust aims to acquire, manage, and invest in infrastructure assets in India. The trust’s initial portfolio consists of nine completed and revenue-generating road projects spanning 682.4 km across seven states. The trust intends to acquire a 100% stake in each project SPV from the sponsor.
The Lead Managers for the IPO are SBI Capital Markets Limited and HDFC Bank Limited, with KFin Technologies Limited as the registrar. Axis Trustee Services Limited is the Trustee of InvIT, while Gawar Investment Manager Private Limited serves as the Investment Manager and Gawar Construction Limited as the Sponsor.
Capital Infra Trust’s IPO marks a significant milestone in the infrastructure investment landscape, offering investors an opportunity to participate in India’s growing infrastructure sector.
