The Capital Infra Trust InvIT is a book-built issue with a size of ₹1,578 crore. The offering comprises a fresh issue of 10.77 crore shares worth ₹1,077 crore and an offer for sale of 5.01 crore shares amounting to ₹501 crore. The issue is open for subscription on January 7, 2025, and close on January 9, 2025. The allotment is expected to be finalised on January 10, 2025, with the listing date set for January 14, 2025, on both BSE and NSE.
Priced between ₹99 and ₹100 per share, the minimum application size for retail investors is 150 shares, requiring a minimum investment of ₹15,000. For sNII and bNII categories, the minimum investments are ₹2,10,000 (2,100 shares) and ₹10,05,000 (10,050 shares), respectively. SBI Capital Markets Limited and HDFC Bank Limited are the lead managers, while KFin Technologies Limited is the registrar for this issue.
Industry Outlook
- The Indian infrastructure sector received ₹111 crore crore investment under the National Infrastructure Pipeline (FY20-25), encompassing 9,000 projects across 35 sub-sectors.
- FDI inflows between FY01-FY24 reached $26.61 billion in construction development and $33.91 billion in infrastructure activities, driving economic and allied sector growth.
Capital Infra Trust Invit IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Providing loans to the Project SPVs for repayment/pre-payment of external borrowings, in part or in full, from the financial lenders (including any accrued interest and prepayment penalty).
- Providing loans to the Project SPVs for repayment of unsecured loans availed by the Project SPVs from the Sponsor.
About Capital Infra Trust
Established in September 2023, Capital Infra Trust is an infrastructure investment trust sponsored by Gawar Construction Limited. The Trust operates under SEBI InvIT Regulations, focusing on infrastructure investments and development activities.
Gawar Construction Limited, the sponsor company, specialises in executing road and highway projects across 19 states in India. It collaborates with prominent government organisations, including the NHAI, MoRTH, MMRDA, and CPWD, to deliver large-scale infrastructure projects.
As of December 2024, the sponsor’s portfolio comprises 26 road projects developed under the hybrid annuity mode (HAM) with NHAI. This includes 11 completed projects—five of which were acquired from Sadbhav Infrastructure Project Limited—and 15 under-construction projects.
Capital Infra Trust received a ‘Provisional CRISIL AAA/Stable (Assigned)’ rating on November 11, 2024, from CRISIL Ratings Limited for its NCDs and proposed long-term bank loan facilities, highlighting its financial stability and creditworthiness.
How To Check the Allotment Status of the Capital Infra Trust Invit IPO?
Steps to check Invit allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the Invit Section and then to Invit Orders.
- Select the individual Invit that you had applied for and check the allotment status.
- Angel One will notify you of your Invit allotment status via push notification and email.
How To Apply for Capital Infra Trust Invit Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the Invit Section: Navigate to the 'Invit' section on the platform.
- Select Invit: Find and select the Capital Infra Trust Invit from the list of open Invits.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Capital Infra Trust Invit
Registered office: Unit No. 1401-1403, 14th Floor, Tower B, SAS Tower, Medicity, Sector-38, Gurugram 122001, Haryana, India
Phone: +0124 4920139
E-mail: compliance@capitalinfratrust.com
Capital Infra Trust Invit Reservation
|
Investor Category |
Shares Offered |
|
QIB Shares Offered |
Not more than 75% of the Offer |
|
NII (HNI) Shares Offered |
Not less than 25% of the Offer |
Capital Infra Trust Invit Anchor Investor Details
|
Bid Date |
January 6, 2025 |
|
Shares Offered |
7,10,10,000 |
|
Anchor Portion Size (In Cr.) |
710.10 |
|
Anchor lock-in period end date for 50% shares (30 Days) |
February 9, 2025 |
|
Anchor lock-in period end date for remaining shares (90 Days) |
April 10, 2025 |
Capital Infra Trust Invit IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
150 |
₹15,000 |
|
Retail (Max) |
13 |
1950 |
₹1,95,000 |
|
S-HNI (Min) |
14 |
2,100 |
₹2,10,000 |
|
S-HNI (Max) |
66 |
9,900 |
₹9,90,000 |
|
B-HNI (Min) |
67 |
10,050 |
₹10,05,000 |
Capital Infra Trust Invit Prospectus
Capital Infra Trust Invit Registrar and Lead Managers
Capital Infra Trust Invit Lead Managers
- SBI Capital Markets Limited
- Hdfc Bank Limited
Registrar for Capital Infra Trust Invit
Kfin Technologies Limited
- Contact Number: 04067162222, 04079611000
- Email Address: nationalinfra.units@kfintech.com
- Website: Capital Infra Trust Invit Registrar
Financial Performance of Capital Infra Trust
| Particulars | For period ended September 30, 2024 | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|---|
| Revenue from Operation (in ₹ crore) | 792.27 | 1,543.51 | 2,518.92 |
| Profit After Tax (PAT) (in ₹ crore) | 115.43 | 125.77 | 497.19 |
| Assets (in ₹ crore) | 4,905.26 | 4,724.07 | 4,283.33 |
Know before investing
Strengths
8Sizeable portfolio of nine operational road assets across India.
682.425 km national highways with ₹91,533.40 million project costs.
Regular annuities from NHAI; ₹5,544.59 million received by 2024.
Hybrid Annuity Model ensures stable, predictable long-term cash flows.
Geographically diversified assets across seven states reduce project risks.
Residual concession periods range from 10.09 to 13.84 years.
Strong support from experienced sponsor with 15+ years expertise.
Provisional CRISIL AAA/Stable rating ensures financial credibility.
Risks
8Trust lacks operating history, making future performance difficult to assess.
Formation Transactions subject to NHAI approvals and lender conditions.
Early termination of projects risks reduced termination payments from NHAI.
Revenue depends on consistent annuity payments; projected ₹10,444.26 million.
Residual concession periods average 11.7 years, limiting long-term growth.
Unpredictable increases in O&M costs may reduce profit margins.
Failure to meet maintenance standards risks penalties or termination.
NHAI claims for ₹5,546.61 million pending approval, causing delays.
