Capital Infra Trust sets price band at Rs 99-100 per unit; IPO to open next week
infrastructure investment trust sponsored by Gawar Construction Ltd, on Friday said it has fixed a price band of Rs 99-100 per unit for its Rs 1,578-crore initial public offering (IPO). The IPO that opens for public subscription on January 7, will conclude on January 9, the company said in a statement.
The public issue of Capital Infra Trust (formerly National Infrastructure Trust) is set to become the first InvIT IPO of 2025.
The IPO comprises 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, according to the red herring prospectus filed on December 27.
The net proceeds from the fresh issue will be utilised by the company towards providing loans to the project special purpose vehicles (SPVs) for repayment/pre-payment of external borrowings, in part or in full, from the financial lenders and loans to the project SPVs for repayment of unsecured loans availed by the project SPVs from the sponsor.
The sponsor, Gawar Construction, is primarily engaged in the construction of road and highway projects across 19 states in India for various government/semi-government bodies and statutory authorities, including NHAI, Ministry of Road Transport & Highway, Mumbai Metropolitan Regional Development Authority (MMRDA) and Central Public Works Department (CPWD).
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