Citius TransNet InvIT Raises ₹497 Cr From Anchor Investors Ahead of IPO

Citius TransNet Investment Trust on Thursday said it has mobilised Rs 497.25 crore from anchor investors ahead of its initial public offering (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.

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.

According to a circular uploaded on the BSE website, the InvIT allocated 4,97,24,850 units at Rs 100 per unit to anchor investors.

The Rs 1,105 crore public issue will open for subscription on April 17 and conclude on April 21. The price band has been fixed at Rs 99 to Rs 100 per unit.

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.

Axis Capital, Ambit and ICICI Securities are the book-running lead managers to the issue.