Capital Infra Trust IPO: GMP, price band, other details to know ahead of issue launch on Tuesday

Capital Infra Trust IPO: The Initial Public Offering (IPO) of Capital Infra Trust InvIT worth ₹1,578 crore will be open for subscription between January 7 and January 9. The price band for Capital Infra Trust InvIT IPO has been set in the range of ₹99 to ₹100 per share.

Capital Infra Trust IPO GMP

The company’s shares are currently trading at nil premium in the grey market, indicating no price advantage over the IPO listing price. The GMP has remained static since trading began in the grey market on January 1, 2025.

While GMP serves as a measure of demand in the unlisted market, it is subject to rapid fluctuations and should not be solely relied upon for investment decisions.

Key Things to know about Capital Infra Trust IPO

Here are key things to know about the public offer:

About the Issue: The IPO is a combination of a fresh issue of 10.77 crore shares, aggregating to ₹1,077 crore and an offer for sale of 5.01 crore shares, aggregating to ₹501 crore.

Lot Size: The IPO shares are being sold in lots of 150 shares. At the minimum, sNII needs to apply for at least 14 lots (2,100 shares), amounting to ₹2,10,000, and for bNII, the minimum investment requirement is 67 lots (10,050 shares), amounting to ₹10,05,000.

Objective: The proceeds from the fresh issuance of shares will be used to provide loans to the project special purpose vehicles (SPVs) to clear external borrowings and repay unsecured loans from the sponsor.

Reservation: Capital Infra Trust has reserved 75% of the offer for qualified institutional buyers and 25% for non-institutional investors (high-net-worth individuals).

Important Dates: The allotment for the Capital Infra Trust Invit is expected to be finalised on Friday, January 10, 2025. The process to initiate refunds likely to take place on January 13. The shares are also expected to be credited to the demat accounts of the eligible shareholders on the same date. Moreover, Capital Infra Trust Invit shares will likely list on BSE and NSE on Tuesday, January 14, 2025.

Registrar and book-running managers: SBI Capital Markets and HDFC Bank are the book-running lead managers of the Capital Infra Trust Invit, while Kfin Technologies is the registrar for the issue.

About the Company: Capital Infra Trust, launched in September 2023, operates as an infrastructure investment trust under the sponsorship of Gawar Construction. The Trust was established to function as an InvIT and pursue investments aligned with SEBI InvIT Regulations.

The sponsor, Gawar Construction, specialises in road and highway construction across 19 states, catering to government, semi-government, and statutory bodies. Key clients include the Ministry of Road Transport and Highways (MoRTH), the National Highways Authority of India (NHAI), the Central Public Works Department (CPWD), and the Mumbai Metropolitan Regional Development Authority (MMRDA).

According to the RHP, the Trust intends to acquire, manage, and invest in nine completed, revenue-generating initial portfolio assets (IPAs) covering a total of 682.42 km. These assets, managed by Project SPVs, are strategically located across Rajasthan, Haryana, Bihar, Himachal Pradesh, Uttarakhand, Karnataka, and Madhya Pradesh. Since 2008, Gawar Construction has successfully executed over 100 road construction projects.

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