Capital Infra Trust Invit lists at issue price of Rs 99

Capital Infra Trust Invit made its Dalal Street debut at the bourses on Friday, January 17 as the units of infrastructure investment trust were listed at par to the issue price at Rs 99 on both BSE and NSE. It had issued its unit on the lower end of the price band at Rs 99 apiece.

The IPO of Capital Infra Invit was open for bidding between January 7 and January 9. The company offered its shares in the range of Rs 99-100 apiece with al lot size of 150 units. The company raised a total of 1,578 crore via IPO, which included a total of Rs 1,077 crore and offer-for-sale (OFS) of up to 501 crore.

The issue of Capital Infra Trust Invit was overall subscribed 2.18 times, receiving bids of 24,71,89,650 units against the offered 8,83,83,750 units. The portion allocated towards others was subscribed 5.08 times, while the portion for institutional investors was booked 0.93 times.

Established in September 2023, Gurugram-based Capital Infra Trust is an infrastructure investment trust sponsored by Gawar Construction. The InvIT was established to engage in activities and make investments as an infrastructure investment trust, as allowed under the SEBI InvIT Regulations.

The sponsoring company specializes in constructing road and highway projects across 19 states in India for various government bodies, including the NHAI, MoRTH, MMRDA, and CPWD. The sponsor company's portfolio of 26 road projects on a hybrid annuity model (“HAM”)with NHAI, of which 11 are completed projects, as of December 2024.

Brokerage firms mostly have a positive view on the issue and suggest investors to subscribe to it for a long-term. SBI Capital Markets and HDFC Bank were the book running lead managers of the Capital Infra Trust Invit, while Kfin Technologies served as the registrar for the issue.