Capital Infra Trust InvIT makes flat market debut; ends almost unchanged

Capital Infra Trust InvIT

The units of Capital Infra Trust, an infrastructure investment trust (InvIT), made a flat market debut on Friday, listing at par with the issue price of Rs 99.

On the BSE and NSE, the units got listed at Rs 99.

The units ended at Rs 99.01, a marginal gain of 0.01 percent on the BSE. Intra-day, it hit a high of Rs 99.49 and a low of Rs 98.57.

On the NSE, the company's units ended at Rs 99.02.

The company's market valuation stood at Rs 2,726.74 crore.

The initial public offer (IPO) of Capital Infra Trust received 2.80 times subscription on the final day of bidding on January 9.

The issue had a price band of Rs 99-100 per unit.

The company's IPO had a combination of a fresh issue of units aggregating up to Rs 1,077 crore and an Offer For Sale (OFS) of units valued up to Rs 501 crore by the sponsor selling unitholder Gawar Construction Ltd.

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The public issue of Capital Infra Trust (formerly National Infrastructure Trust) became the first InvIT IPO of 2025.

According to its prospectus, the proceeds from the fresh issue will be used to provide loans to the project special purpose vehicles (SPVs) to clear external borrowings.

The funds will also be used to give loans to project SPVs for debt repayment of unsecured loans from the sponsor.

The sponsor, Gawar Construction, is engaged in the construction of road and highway projects across 19 states in India for various government/semi-government bodies and statutory authorities, including the NHAI, Ministry of Road Transport and Highway, Mumbai Metropolitan Regional Development Authority, and Central Public Works Department.

Established in September 2023, Capital Infra Trust was set up to carry out activities as an InvIT and make investments as per Sebi's InvIT norms.