Citius TransNet InvIT launched its initial public offering on Friday. The IPO bidding will close on April 21, with shares offered in a price band of Rs 99 to Rs 100 apiece.
Citius TransNet Investment Trust said it has mobilised Rs 497.25 crore from anchor investors ahead of its IPO. The InvIT garnered participation from a range of investors, including Prazim Trading and ASKWA Income Opportunities Fund, as well as pension and provident funds such as HDFC Pension, SBI Pension, ICICI Prudential Pension, DSP Pension and Larsen & Toubro Provident Fund.
According to a circular uploaded on the BSE website, the InvIT allocated approximately 4.97 units at Rs 100 per unit to anchor investors.
Mutual funds across equity, hybrid and multi-asset schemes, including WhiteOak, DSP, Quant and Axis Mutual Fund, also participated in the anchor book. Among insurance investors were Bajaj Life, Axis Max Life, Bharti AXA and IndusInd General.
Axis Capital, Ambit and ICICI Securities are the book-running lead managers to the issue.
Citius TransNet InvIT Financials
Proceeds from the issue will be used for partial or full acquisition of securities of SRPL Roads Private Ltd and certain identified project special purpose vehicles, including Thrissur Expressway Ltd, Jorabat Shillong Expressway Ltd, Dhola Infra Projects Private Ltd and Dibang Infra Projects Private Ltd, as well as for general corporate purposes.
About The Company
Citius TransNet Investment Trust (Trust) is a transport sector-focused infrastructure investment trust (InvIT), established to acquire, manage and invest in a portfolio of transport infrastructure assets, including roads, in the country. The portfolio assets comprise a total of 3,406.71 lane-kms (seven toll assets spanning more than 3,043.22 lane-kms, and three annuity assets spanning more than 363.49 lane-kms) across nine different states, according to the offer document.
The sponsor of the Trust is Epic TransNet Infrastructure Private Limited. The sponsor is fully owned by funds under Infrastructure Yield Trust -- Infrastructure Yield Plus II, Infrastructure Yield Plus IIA, and India Infrastructure Yield Plus II. These funds are managed by EAAA India Alternatives Ltd (EAAA).
The Rs 1,105 crore public issue will open for subscription on April 17 and conclude on April 21.
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