IPO alert! Citius Transnet Investment Trust files draft papers with Sebi

Upcoming IPO: Mumbai-based Citius Transnet Investment Trust has moved a step closer to its stock market debut, filing its Draft Offer Document (DOD) with the Securities and Exchange Board of India (Sebi) for a proposed initial public offering (IPO) to raise ₹1,340 crore.

 

The proposed offer, comprising units aggregating up to ₹1,340 crore, includes a strategic investor portion capped at 25 per cent of the total issue size. The units are proposed to be listed on both BSE and NSE.

 

Of the total issue size, proceeds of ₹1,235 crore from the fresh issuance, the trust said, will be deployed toward the partial or full acquisition of securities of SRPL and identified project SPVs, including TEL, JSEL, Dhola and Dibang. A portion of the funds will also be set aside for general corporate purposes.

 

Axis Capital, Ambit Private Limited and ICICI Securities are the book-running lead managers, while Kfin Technologies Limited will act as the registrar. 

About Citius Transnet Investment Trust

Citius Transnet Investment Trust is a transport sector-focused infrastructure investment trust set up to acquire, manage and invest in a portfolio of transport infrastructure assets, including roads, across India. The Trust was established through a Trust Deed by the Sponsor and registered as an InvIT with SEBI on August 1, 2025, under the InvIT Regulations.

 

The Sponsor, Epic TransNet Infrastructure Private Limited (formerly Watrak Infrastructure Private Limited), is wholly owned by schemes of the Infrastructure Yield Trust—Infrastructure Yield Plus II, Infrastructure Yield Plus IIA and India Infrastructure Yield Plus II—an AIF managed by EAAA India Alternatives Limited (EAAA). As of September 30, 2024, EAAA managed three of the 14 infrastructure-focused funds in India, ranking third among infrastructure investment managers by AUM (Source: CRISIL Report).

 

The Trust’s initial portfolio comprises 3,406.71 lane-kilometres of assets, including seven toll road assets totaling more than 3,043.22 lane-kilometres and three annuity assets spanning over 363.49 lane-kilometres across nine states, according to the Draft Offer Document.

 

For the June 2025 quarter, the Trust reported revenue from operations of ₹500.8 crore and a net loss of ₹92.2 crore. Revenue from operations stood at ₹1,987 crore in FY25, compared with ₹1,773.5 crore in FY23, while net loss narrowed to ₹417.7 crore in FY25 from ₹654 crore in FY23.