Citius TransNet InvIT raises ₹497 crore from anchor investors; IPO opens today
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Citius TransNet Investment Trust (InvIT), a transport infrastructure-focused investment trust, has raised about ₹497.2 crore from anchor investors ahead of its initial public offering (IPO), which opens for public subscription today. This marks the second InvIT to launch a public issue, following Raajmarg Infra Investment Trust (InvIT), which raised ₹6,000 crore via the IPO route last month.
The trust informed exchanges that it allotted 4,97,24,850 units at ₹100 per unit to anchor investors.
The anchor book saw participation from a diversified set of investors, including Prazim Trading and ASKWA Income Opportunities Fund, along with 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 - such as WhiteOak, DSP, Quant, and Axis Mutual Fund - also participated in the anchor round. Insurance investors included Bajaj Life, Axis Max Life, Bharti AXA, and IndusInd General, while Nuvama Wealth was among the other participants.
To raise ₹1,105 crore via IPO
The IPO is expected to raise total gross proceeds of ₹1,105 crore and will remain open for subscription until April 21, 2026. The issue is entirely a fresh issue of 11.05 crore shares at a price band of ₹100 per share. Investors can bid for a minimum of 150 units and in multiples thereof.
The allotment of the Citius TransNet InvIT IPO is expected to be finalised on April 24, while the units are likely to be listed on the NSE and BSE on April 29.
Axis Capital, Ambit Private Limited, and ICICI Securities are acting as the book-running lead managers to the issue, while Shardul Amarchand Mangaldas is serving as legal counsel.
Portfolio of road assets
Citius TransNet InvIT focuses on acquiring, managing, and investing in transport infrastructure assets, particularly roads, across India. The trust was registered with SEBI on August 1, 2025.
The sponsor of the InvIT is Epic TransNet Infrastructure Pvt Ltd, which is wholly owned by schemes of Infrastructure Yield Trust managed by EAAA India Alternatives.
Upon completion of the formation transactions, the InvIT’s initial portfolio will comprise 10 road assets spanning 3,406.71 lane-km across nine states, including seven toll projects and three annuity projects.
Toll assets accounted for 82.3% of total cash revenue receipts in FY25, while annuity assets contributed 17.7%, according to a CRISIL report.
The portfolio has a long operating track record, with toll assets having an average operating history of over 10 years and a weighted average residual concession life of nearly 13 years. The assets have also demonstrated steady traffic growth, with a weighted average daily traffic growth of 7.1% between FY23 and FY25.