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Deal: Public offer of units by Bharat Highways InvIT

15 Mar 2024

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Trilegal advised G R Infraprojects Limited in the public offer of units by Bharat Highways InvIT (“Bharat Highways”), an infrastructure investment trust established to acquire, manage and invest in a portfolio of infrastructure assets in India.

At the time of the offer, the initial portfolio assets of Bharat Highways comprised seven road projects, all of which were hybrid annuity model projects awarded by NHAI, with steady annuity inflow for Bharat Highways.

This transaction marks the fourth public InvIT in India, and the first since 2021.

At Rs. 24,999.99 million, this was the most subscribed public InvIT till date, which was subscribed 8.01 times. The public issue was subscribed 8.92 times in the institutional investors’ category and 6.93 times in other investors’ category.

The deal was led by our Capital Markets Partner Abhinav Maker and supported by attorneys Vinaya, Senior Associate and Veena Raghav, Associate.

Media Link:

Bharat Highways InvIT lists with 1% premium at ₹101 per unit on BSE | Mint (livemint.com)

Bharat Highways share price: Bharat Highways Invit debuts with 1% premium over IPO price – The Economic Times (indiatimes.com)

Bharat Highways InvIT make a flat D-St debut; lists at 1% premium – BusinessToday

About Trilegal

Trilegal is one of India’s leading law firms, with expertise across the full spectrum of corporate legal services. Trilegal has offices in four key cities of India.

Trilegal has been recognised as the India Deal Firm of the Year by Asian Legal Business (ALB) India Law Awards 2023; one of the ‘Best Overall Law Firms’ at the India Business Law Journal Indian Law Firm Awards 2022; ‘Firm of the year’ for Client Service Excellence by Asia Law Awards 2021; “M&A Law firm of the Year” by VCCircle Awards 2020 one of the most innovative law firms in Asia in the inaugural edition of ALB Trailblazers 2020; and ‘highly commended’ in the FT RSG Innovative Lawyers Awards 2020.

For more information, please contact:

Sahil Wason
Mob: +91-8928008122 | BD@trilegal.com

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