Capital Infra Trust InvIT units list flat on NSE

Capital Infra Trust InvIT units list flat on NSE

Capital Infra Trust InvIT units listed flat on the exchanges on January 17 after initial public offering (IPO) of the infrastructure investment trust (InvIT) received over 2 times subscription.

The units of Capital Infra Trust listed at Rs 99 on the NSE against its issue price of Rs 99.

Capital Infra Trust, backed by Gawar Construction, raised Rs 703 crore from anchor investors. The IPO included a fresh issue of units worth Rs 1,077 crore and an offer for sale (OFS) of units valued at Rs 501 crore by the sponsor, Gawar Construction Ltd., taking the total issue size to Rs 1,578 crore.

The public offering marks the first infrastructure investment trust (InvIT) IPO of 2025. According to the prospectus, proceeds from the fresh issue will primarily be utilised to provide loans to the project special purpose vehicles (SPVs) to clear external borrowings. Additionally, funds will be used to repay unsecured loans extended by the sponsor to these SPVs.

Gawar Construction, the sponsor, specialises in road and highway construction projects across 19 states in India. Its clients include prominent government and semi-government entities such as the National Highways Authority of India (NHAI), the Ministry of Road Transport and Highways, the Mumbai Metropolitan Region Development Authority (MMRDA), and the Central Public Works Department (CPWD).

Established in September 2023, Capital Infra Trust was created to function as an InvIT, with a mandate to make investments in compliance with the Securities and Exchange Board of India’s (SEBI) InvIT regulations.

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