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Citius TransNet InvIT mobilises Rs 497.25 crore from anchor investors ahead of IPO
Citius TransNet Investment Trust has raised Rs 497.25 crore from anchor investors ahead of its Rs 1,105 crore IPO. As per a BSE circular, units were allocated at Rs 100 each. The issue opens on 17 April and closes on 21 April, with a price band of Rs 99–100 per unit.
Citius TransNet Investment Trust said it raised Rs 497.25 crore from anchor investors. The fundraise came before the InvIT’s initial public offering. A BSE circular said the trust placed 4,97,24,850 units with anchor buyers. Each unit was priced at Rs 100.
The InvIT’s public issue size is Rs 1,105 crore. The IPO will open for subscription on April 17. It will close on April 21. The price band is set between Rs 99 and Rs 100 per unit. The offer follows the anchor allocation.
Citius TransNet Investment Trust anchor investors and unit allocation
Anchor participants included Prazim Trading and ASKWA Income Opportunities Fund. Pension and provident buyers also joined, including HDFC Pension and SBI Pension. ICICI Prudential Pension, DSP Pension and Larsen & Toubro Provident Fund were listed too. The anchor book also saw participation from equity, hybrid and multi-asset mutual fund schemes.
Mutual fund names in the anchor list included WhiteOak, DSP, Quant and Axis Mutual Fund. The investor mix also had insurance firms. These included Bajaj Life, Axis Max Life, Bharti AXA and IndusInd General. The issue details were disclosed through the circular uploaded on the BSE website.
Citius TransNet Investment Trust IPO timeline, price band and managers
The offer will be managed by Axis Capital, Ambit and ICICI Securities. These firms are the book-running lead managers for the issue. The IPO pricing range stays close to the anchor price. Units are offered within the Rs 99 to Rs 100 band. The subscription window runs from April 17 to April 21.
Citius TransNet Investment Trust IPO proceeds and SRPL Roads Private Ltd acquisition
Proceeds from the IPO are planned for buying securities in road assets. The trust said funds will go towards a partial or full acquisition of securities of SRPL Roads Private Ltd. Money is also earmarked for certain identified project special purpose vehicles. A portion will be used for general corporate purposes.
The project special purpose vehicles named include Thrissur Expressway Ltd and Jorabat Shillong Expressway Ltd. The list also includes Dhola Infra Projects Private Ltd and Dibang Infra Projects Private Ltd. The InvIT has outlined these uses as part of the issue plan. The IPO structure combines the anchor placement and the public subscription.
With inputs from PTI
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