Capital Infra Trust’s IPO received 39% subscription on its first day, with bids for 3,46,59,300 units out of the 8,83,83,750 units offered. The issue, priced at ₹99-100 per unit, aims to raise ₹1,578 crore, including fresh issues and an offer for sale from sponsor Gawar Construction. The IPO will close on January 9.
The offer size was 8.83 billion shares against which 1.76 billion shares were received.
Capital Infrastructure Trust’s initial public offering (IPO) attracted bids for 1,767,9450 shares against an offer size of 8,838,3750 shares, as per exchange data as of 5 PM IST on Wednesday (08 Jan 2025). The issue was subscribed at 0.20 times.
The issue will open for bidding on 07 Jan 2025 and close on 09 Jan 2025. The price band for the IPO has been set at Rs 99 to Rs 100 per share. Investors may bid for at least 150 common shares and multiples thereof.
Key Details:
- Price Band: Rs 99-100 per unit
- Issue Size: Rs 1,578 crore (Fresh issue: Rs 1,077 crore, Offer for sale: Rs 501 crore)
- Subscription Period: January 7-9, 2025
- Listing Date: January 14, 2025 (Tentative)
- Utilization of Proceeds: Loans to project SPVs for repayment/prepayment of external borrowings and unsecured loans
- Sponsor: Gawar Construction Ltd
- Lead Managers: SBI Capital Markets Limited and HDFC Bank Limited
GMP Insights: The Grey Market Premium (GMP) for Capital Infra Trust InvIT IPO has remained unchanged since trading commenced on January 1, 2025. The IPO has seen no price advantage over the IPO listing price in the grey market.
Day 1 Subscription Highlights
- Institutional Investors: Received the most robust response, with a significant portion of the issue subscribed by Qualified Institutional Buyers (QIBs).
- Non-Institutional Investors (NIIs): Moderate participation was observed, reflecting steady interest in high-yield investment instruments.
- Retail Investors: Early participation indicates growing awareness about InvIT IPOs and their potential for generating stable returns.
Why Consider the Capital Infra Trust InvIT IPO?
- Steady Revenue Streams: InvITs are known for offering consistent returns through dividends generated from infrastructure assets.
- Strong Backing: The Capital Infra Trust InvIT is supported by a reputable sponsor with a history of delivering on infrastructure projects.
- Growth Potential: With India’s focus on enhancing infrastructure, this InvIT offers exposure to an expanding sector.
Use of Funds
The funds raised from this IPO will primarily be used to:
- Repay or prepay debt incurred by underlying Special Purpose Vehicles (SPVs).
- Finance the acquisition of additional infrastructure assets.
Subscription Insights and Predictions
- Day 2 Expectations: Subscription levels are expected to rise as more institutional and retail investors participate.
- GMP Outlook: The Grey Market Premium is likely to stabilize as the subscription progresses, offering better clarity on market sentiment.
Conclusion
The Capital Infra Trust InvIT IPO offers a unique opportunity for investors to diversify their portfolios with a stable income-generating asset. With its promising subscription momentum, competitive pricing, and strong sectoral growth prospects, this IPO is worth considering for both retail and institutional investors.
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