Capital Infra Trust IPO (Invt) – Rs. 703 crore raised through Anchors
Capital Infra Trust IPO InvIT, sponsored by Gawar Construction, successfully raised Rs 703 crore from 27 institutional investors through its anchor book on January 6, just a day before the official issue opened. The infrastructure investment trust has set a target of mobilizing Rs 1,578 crore through its initial share sale. This includes a fresh issuance of units worth Rs 1,077 crore and an offer-for-sale of Rs 501 crore worth of units by the sponsor, who is divesting its holdings. The price band for the issue has been fixed at Rs 99-100 per unit.
In a filing to exchanges, the InvIT confirmed the allocation of 7.1 crore units to anchor investors at Rs 99 per unit, which is at the lower end of the price band.
Notable institutional participants in the anchor book of the infrastructure investment trust include HDFC Life Insurance, Quant Mutual Fund, SBI Life Insurance, NPS Trust, HDFC Mutual Fund, Axis Mutual Fund, Nuvama Multi Asset Strategy Return Fund, Kotak Mahindra Trustee, ICICI Prudential MF, Max Life Insurance, Baroda PNB Paribas MF, Pico Capital, and Navi Finserv.
The proceeds from the fresh issue will be used to repay debt taken by the project special purpose vehicles (SPVs) from the sponsor and financial lenders.
Capital Infra Trust marks the first InvIT IPO of 2025, opening for subscription to institutional and non-institutional investors on January 7 and closing on January 9. Up to 75% of the offer is reserved for institutional investors, with the remaining 25% for non-institutional investors.
Investors can expect the allotment of units to be finalized by January 14, with trading in Capital Infra Trust units scheduled to begin on January 17. Established by Gawar Construction in September 2023, Capital Infra Trust aims to invest in infrastructure assets. It primarily aims to acquire, manage, and invest in nine completed and revenue-generating portfolio assets, aggregating approximately 682.43 kms, which are owned and operated by the project SPVs in seven states in India.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.