Capital Infra Trust InvIT, sponsored by Gawar Construction, raised Rs 703 crore from 27 institutional investors through its anchor book on January 6, a day before the issue opened.
The infrastructure investment trust aims to mobilise Rs 1,578 crore through its initial share sale, which consists of 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 selling its holdings. The price band for the issue has been set at Rs 99-100 per unit.
In its filing to exchanges, the InvIT stated it had finalised the allocation of 7.1 crore units to anchor investors at Rs 99 per unit, the lower end of the price band.
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 were the institutional participants in the anchor book of the infrastructure investment trust.
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The proceeds from the fresh issue will be utilised to repay debt availed by the project special purpose vehicles (SPVs) from the sponsor and financial lenders.
Capital Infra Trust is the first InvIT IPO of 2025, opening for subscription to institutional and non-institutional investors on January 7. The issue will close on January 9.
Up to 75% of the offer has been reserved for institutional investors, and up to 25% for non-institutional investors.
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The units’ allotment to investors will be finalised by January 14, with trading in Capital Infra Trust units set to commence on the bourses on January 17.
Capital Infra Trust was established by Gawar Construction in September 2023 to make investments as an infrastructure investment trust. 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 (special purpose vehicles) in seven states in India.
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