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19 Nov 2024
National Infrastructure Trust, an infrastructure investment trust backed by Gawar Construction Limited, has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for a public issue aimed at raising ₹1,600 crore. The IPO consists of a fresh issue of units worth ₹1,200 crore and an offer for sale of units amounting to ₹400 crore by the Sponsor Selling Unitholder.
The public offering will be conducted through a book-building process, with 75% of the units allocated to institutional investors and the remaining 25% to non-institutional investors. HDFC Bank and SBI Capital Markets Ltd are serving as lead book-running managers, while KFin Technologies Ltd has been appointed as the registrar for the issue.
The ₹1,200 crore from the fresh issue will primarily be utilized for providing loans to project special purpose vehicles (SPVs) for repaying or prepaying external borrowings and unsecured loans obtained from the Sponsor.
Established on September 25, 2023, and registered with SEBI on March 7, 2024, the National Infrastructure Trust aims to acquire, manage, and invest in a diverse portfolio of infrastructure assets across India. This IPO marks a significant step in its strategy to enhance its capital base and expand its operations in the growing infrastructure sector.
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