BSEGeneral22 Oct 2026 · 22 Oct 2026, 05:35 pm
Capital Infra Trus has informed the Exchange regarding Disclosure of material issue
Capital Infra Trus · 544338
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Capital Infra Trust has successfully raised ₹1,115 crore through a Qualified Institutional Placement (QIP) to acquire six operational Hybrid Annuity Model (HAM) road assets, expanding its portfolio from 12 to 18 assets.
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Full Announcement
Capital Infra Trus - 544338 - Reg 23(5)(i): Disclosure of material issue
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October 22, 2026
National Stock Exchange of India Limited BSE Limited
Exchange Plaza, C-l, Block-G Corporate Relationship Department
Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Dalal Street,
Bandra (E), Mumbai-400051 Fort, Mumbai- 400001
Symbol: CAPINVIT Scrip Code: 544338
ISIN: INE0Z8Z07016, INE0Z8Z07024
Subject: Press Release of Capital Infra Trust (“Trust”) for successfully raising Rs. 1,115
crores through Institutional Placement
Dear Sir/ Madam,
We hereby submit the Press Release of Capital Infra Trust (“Trust”) regarding fund raising through
Institutional Placement for an aggregate amount of Rs. 1,115 crores.
Kindly take the same on your records.
The above information is available on the website of the Trust i.e. https://capitalinfratrust.com/.
For Capital Infra Trust
(acting through its Investment Manager, Gawar Investment Manager Private Limited)
Shubham Jain
Company Secretary and Compliance Officer
Enclosed: As Above
Copy to:
Trustee to the Trust Debt Security Trustee
Axis Trustee Services Limited IDBI Trusteeship Services Limited
Axis House, P B Marg, Worli, Mumbai, Ground Floor, Universal Insurance Building
Maharashtra, India – 400025 Sir P.M. Road, Fort, Mumbai, Maharashtra – 400001
CAPITAL Infra Trust 0124 – 4920139 Registration no:
(formerly known as National Infrastructure Trust) compliance@capitalinfratrust.com IN/InvIT/23-24/0029
Unit No. 1401 -1403, 14th Floor, Tower B, SAS Tower,
Medicity, Sector - 38, Gurugram - 122001, Haryana
Press Release
Capital Infra Trust Successfully Raises ₹1,115 Crore Through
QIP to Advance its Next Phase of Growth
Backed by new institutional capital, the company is set to acquire six operational HAM assets, expanding
the portfolio from 12 to 18 assets
Haryana, India, October 22, 2026: Capital Infra Trust (erstwhile National Infrastructure Trust; NSE Symbol:
CAPINVIT, BSE Scrip Code: 544338), (“CIT” / the “InvIT”) has successfully completed a Qualified Institutional
Placement (QIP) of 14,81,72,756 units at an issue price of ₹75.25 per unit, aggregating to ₹1,115 crore. The issue
price represents a discount of 2.36% to the floor price of ₹77.07 per unit. Following the allotment, the Trust’s
unitholding capital comprises 65,63,35,689 units.
The QIP witnessed participation from a broad set of domestic institutional investors, including mutual funds,
pension funds, life and general insurance companies, banks and other qualified institutional buyers. Key
participating institutions included ICICI Prudential Mutual Fund, Kotak Mutual Fund, HDFC Mutual Fund,
Nippon India Mutual Fund, SBI Life Insurance, HDFC Life Insurance, Axis Max Life Insurance, Kotak
Mahindra Life Insurance, ICICI Prudential Life, HDFC Pension, SBI Pension, ICICI Prudential Pension, Axis
Mutual Fund, amongst others. The participation reflects institutional interest in CIT’s annuity-backed road
infrastructure platform and growth strategy.
The proceeds are proposed to be utilised towards the acquisition of six operational Hybrid Annuity Model (HAM)
road assets under the Sponsor’s Right of First Offer (ROFO) framework, supporting the next phase of portfolio
growth. Upon completion of the proposed acquisitions, CIT’s portfolio is expected to expand from 12 to 18
operational HAM assets, adding approximately 181 km of road assets with an average residual concession life of
more than 12 years.
The proposed acquisitions include:
1. Gawar Bhiwani Highway Private Limited (Haryana)
2. Gawar Kangra Highways Private Limited (Himachal Pradesh)
3. Gawar Pathankot Mandi Highway Private Limited (Himachal Pradesh)
4. Gawar Udaipur Highway Private Limited (Rajasthan)
5. Gawar Waranga Highways Private Limited (Maharashtra)
6. Gawar Rudrapur Highway Private Limited (Uttarakhand)
Value Proposition:
• Portfolio scale-up from 12 to 18 operational HAM assets upon completion of the proposed acquisitions
• All six proposed assets operate under the HAM framework
• Annuity-backed cash flows support distribution visibility
• NHAI as the concessioning authority, resulting in limited traffic risk exposure
Press Release
Commenting on the development, Mr. Rakesh Kumar, Director of Capital Infra Trust, said: “The proposed
acquisitions are expected to enhance the scale and quality of our portfolio and strengthen cash flow visibility for
unitholders. We remain focused on disciplined capital allocation and sustainable value creation. The successful
completion of the QIP and participation from marquee investors validates our strategy of combining growth with
prudence.”
Commenting on the development, Mr. Hare Krishna, CEO of Capital Infra Trust, said: “This capital raise marks
the next phase of Capital Infra Trust’s growth journey. The proposed acquisitions will expand our operational
portfolio and support predictable, sustainable distributions. The transaction also strengthens our financial flexibility
and positions the Trust to pursue accretive growth opportunities while maintaining a prudent capital structure.”
The institutional placement was advised by HDFC Securities Ltd. and Ambit Pvt Ltd. as Lead Managers to the
issue.
Commenting on the development, Mr. Rahul Mody, Head of Investment Banking, Ambit Private Ltd, said:
“The very strong interest in the QIP issuance from a wide range of long-only institutional investors, new as well as
existing, reflects Capital Infra Trust's high quality current portfolio, growth through acquisition of assets from the
Sponsor funded by this QIP and robust further growth prospects. Ambit is pleased to have acted as a BRLM on this
issuance.”
Outlook
Backed by annuity-linked assets, a visible acquisition pipeline and a prudent capital structure, Capital Infra Trust
remains focused on delivering predictable distributions and pursuing disciplined growth.
About Capital Infra Trust
Established in September 2023, Capital Infra Trust is an infrastructure investment trust sponsored by Gawar Construction Limited. The
InvIT was formed to invest in infrastructure assets under the SEBI InvIT Regulations. The sponsor specializes in road and highway
construction projects across 19 Indian states for various government agencies, including the NHAI, MoRTH, MMRDA, and CPWD. As of
September 2026, the sponsor company's portfolio includes 17 hybrid annuity mode (“HAM”) road projects with NHAI.
For more information, please contact:
Capital Infra Trust Ernst & Young LLP
Saksham Mahajan, Investor Relations Abhishek Bhatt / Shrishti Tandon
ir@capitalinfratrust.com abhishek.bhatt3@in.ey.com/shrishti.tandon@in.ey.com
Visit us at: www.capitalinfratrust.com
DISCLAIMER:
Certain statements in this document that are not historical facts are forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local,
political, or economic developments, industry risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. Capital
Infra Trust will not be responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or
circumstances.