Capital Infra Trust InvIT IPO receives 2.8 times subscription on last day

The initial public offer of Capital Infra Trust, an infrastructure investment trust (InvIT), received 2.80 times subscription on the final day of bidding on Thursday.

The public offer received bids for 24,71,89,650 units against 8,83,83,750 units on offer, according to data available on the stock exchanges.

Other investors portion got subscribed 5.08 times and the institutional investors' portion received 93 per cent subscription.

Capital Infra Trust, sponsored by Gawar Construction, has garnered Rs 703 crore from anchor investors.

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

The company's IPO is 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. This takes the total size to Rs 1,578 crore.

 

The public issue of Capital Infra Trust (formerly National Infrastructure Trust) has become 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.

The units of the company will be listed on the BSE and NSE.