Mumbai: Capital Infra Trust, an infrastructure investment trust sponsored by Gawar Construction Limited (GCL), is coming out with an Initial Public Offering (IPO) priced at Rs 99 to Rs 100 per unit – aggregating to Rs 1,578 crore – which will be opening on January 7, 2025 and closing on January 9, 2025.
The Units are proposed to be listed on BSE and NSE and is being made through the Book Building Process. The InviT has received rating of ‘Provisional CRISIL AAA/Stable (Assigned)’ from Crisil Ratings Limited on December 31, 2024.
The Lead Managers to the issue are: SBI Capital Markets Limited, HDFC Bank Limited, while Registrar to the Issue is KFin Technologies Limited. Axis Trustee Services Limited has been appointed as the Trustee of the InviT.
Gawar Investment Manager Private Limited has been appointed as the Investment Manager, and Gawar Construction limited has been appointed as the Sponsor.
Manish Satnaliwala, CEO, said that the Net Proceeds are Proposed to be utilized towards: providing loans to the Project SPVs for repayment/prepayment, in part or full, of their respective outstanding loans (including any accrued interest and prepayment penalty); and providing loans to the Project SPVs for repayment of unsecured loans availed by the Project SPVs from the Sponsor.
The InviT primarily intend to acquire, manage and invest in the nine completed and revenue-generating Initial Portfolio Assets, aggregating to 682.425 kms, operated and maintained pursuant to concessions granted by the NHAI and are owned and operated by the Project SPVs.
These roads are located in the States of Haryana, Rajasthan, Bihar, Uttarakhand, Himachal Pradesh, Madhya Pradesh and Karnataka.
