Capital Infra Trust InvIT IPO Day 2 Live Updates: Key Highlights, GMP, Subscription Status, and Insights
The company's initial public offering (IPO) opened on January 7, 2025, and is scheduled to close on January 9, 2025. Capital Infra Trust is an infrastructure investment trust (InvIT) sponsored by Gawar Construction Limited, created to undertake construction activities and investments permissible under SEBI InvIT regulations.
Capital Infra IPO Details
The Capital Infra Trust InvIT is a book-built issue valued at ₹1,578.00 crores, comprising a fresh issue of 10.77 crore shares worth ₹1,077.00 crores and an offer for sale (OFS) of 5.01 crore shares totalling ₹501.00 crores. The bidding period for the issue opened on January 7, 2025, and will close on January 9, 2025. The allotment is expected to be finalized on Friday, January 10, 2025, with the InvIT set to be listed on both the BSE and NSE. The tentative listing date is scheduled for Tuesday, January 14, 2025.
Use of Proceeds
The proceeds from the offer will be utilized primarily to provide loans to the Project SPVs for two purposes: first, to repay or pre-pay external borrowings, either partially or fully, including any accrued interest and prepayment penalties owed to financial lenders; and second, to settle unsecured loans previously availed by the Project SPVs from the Sponsor.
IPO Day 2 Subscription Status
(January 8, 2025, End of Day)
On the second day of bidding, the IPO of Capital Infra Trust received a subscription of 0.54 times. Qualified Institutional Buyers subscribed to 4% of their reserved portion, while Non-Institutional Investors subscribed 1.14 times the portion allocated to them.
IPO Day 1 Subscription Status
(January 7, 2025, End of Day)
By the first day of bidding, Capital Infra Trust's initial IPO saw a modest start on its opening day, achieving 39% subscription by Tuesday. According to stock exchange data, the IPO attracted bids for 3,46,59,300 units out of the total 8,83,83,750 units on offer.
Capital Infra Trust Overview
Established in September 2023, Capital Infra Trust is an infrastructure investment trust (InvIT) sponsored by Gawar Construction Limited, created to undertake activities and investments permissible under SEBI InvIT regulations. The sponsor is a prominent player in road and highway construction across 19 Indian states, serving government entities such as NHAI, MoRTH, MMRDA, and CPWD. By December 2024, the sponsor had a portfolio of 26 road projects under the hybrid annuity model (HAM) with NHAI, comprising 11 completed projects, including five assets acquired from Sadbhav Infrastructure Project Limited and 15 projects still under construction. On November 11, 2024, CRISIL Ratings Limited assigned the Trust a provisional ‘CRISIL AAA/Stable’ rating for its NCDs and proposed long-term bank loan facilities.
Capital Infra Trust InvIT Financials
- The Revenue of the firm in FY 2024 decreased by 38.8% to ₹1,543.51 crores from ₹2,518.92 crores of FY 2023. The Profit After Tax of the Company was decreased by 74.7% in FY 2024 to ₹125.77 crores from ₹497.19 crores of FY 2023.
- For the first half of FY25, it earned a net profit of Rs 115.43 crore on a total income of Rs 792.27 crore.
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