Capital Infra Trust InvIT IPO: Key Details and Subscription Information
The Initial Public Offering (IPO) of Capital Infra Trust InvIT is set to open for public subscription on Tuesday, January 7, 2025. The company aims to raise Rs 1,578 crore at the upper end of the price band. The IPO includes an entirely fresh issue of 2.9 crore equity shares and an offer for sale of 5.01 crore equity shares.
Key Details of the Capital Infra Trust IPO:
- Price Band: Rs 99-100 per share
- Lot Size: 150 shares (minimum bid of 150 shares and in multiples thereof)
- Offer Type: Fresh issue of 2.9 crore shares + Offer for sale of 5.01 crore shares
The grey market premium (GMP) for the IPO remained at nil on January 6, 2025, suggesting that the unlisted shares are not seeing significant price movement.
IPO Timeline:
- Subscription Period: January 7, 2025, to January 9, 2025
- Basis of Allotment: January 10, 2025
- Shares in Demat Accounts: January 13, 2025
- Listing Date: January 14, 2025, on BSE and NSE
Use of Proceeds:
Capital Infra Trust will not receive any proceeds from the offer for sale. The proceeds from the fresh issue will be used primarily for the following purposes:
- Providing loans to Project SPVs for the repayment or pre-payment of external borrowings and unsecured loans from the Sponsor.
Financial Performance:
For the financial year FY24, Capital Infra Trust reported:
- Profit: Rs 125.76 crore, a decline of 74% from Rs 497.18 crore in FY23
- Revenue: Rs 1,485.09 crore, a 27% decline from Rs 2,033.09 crore in FY23
- Expenses: Rs 1,368.64 crore, a 26.17% decrease from Rs 1,853.84 crore in FY23
Company Overview:
Capital Infra Trust, established in September 2023, is an infrastructure investment trust (InvIT) sponsored by Gawar Construction. The trust primarily invests in infrastructure projects, focusing on nine completed and revenue-generating assets. These assets, totaling approximately 682.425 km, are managed pursuant to concessions granted by the National Highways Authority of India (NHAI). The trust aims to acquire, manage, and invest in these assets through Project SPVs.
IPO Management:
- Registrar: Kfin Technologies Limited
- Book Running Lead Managers: SBI Capital Markets and HDFC Bank
As the IPO subscription opens today, investors are closely watching the offering, particularly the price band and the potential future performance of Capital Infra Trust in the infrastructure space.
