National Infrastructure Trust to raise Rs 1,600 crore through IPO

In accordance with SEBI Infrastructure Investment Trust (InvIT) regulations and the SEBI guidelines, 75 per cent of offer will be available for a proportionate allocation to institutional investors

The National Infrastructure Trust has filed a draft offer document with the Securities and Exchange Board of India (Sebi) to raise Rs 1,600 crore via an initial public offering (IPO). Of the total offering, Rs 1,200 crore will be raised through a fresh issue, and Rs 400 crore through an offer for sale by sponsor-selling unitholders.

In accordance with the Sebi Infrastructure Investment Trust (InvIT) regulations and guidelines, 75 per cent of the offer will be available for a proportionate allocation to institutional investors, while the remaining 25 per cent will be available to non-institutional investors, the document stated. The offer will be made through a book-building mechanism.

 

As per the document, the Trust aims “to acquire, manage, and invest in the nine completed and revenue-generating initial portfolio assets, aggregating to approximately 683.875 kilometres.” The roads are located in the states of Haryana, Rajasthan, Bihar, Uttarakhand, Himachal Pradesh, Madhya Pradesh, and Karnataka.

Additionally, the Trust was settled by Gawar Construction Limited, which is also the sponsor. The Trust was registered with Sebi as an InvIT under the Sebi InvIT Regulations in March 2024.