31 Mar 2026
Deal: Trilegal advised Capital Infra Trust and Gawar Construction as their legal advisor on the initial public offering of units (IPO)
21 Jan 2025
21 Jan 2025
Trilegal advised Capital Infra Trust (erstwhile National Infrastructure Trust) (Trust) and Gawar Construction Limited (Sponsor Selling Unitholder) as their legal advisor on the initial public offering of Units (IPO).
Capital Infra Trust (erstwhile National Infrastructure Trust) (Trust) is an infrastructure investment trust sponsored by Gawar Construction Limited (GCL or Sponsor), established on September 25, 2023, with the objective to carry on the activities of, and to make investments as, an infrastructure investment trust. The Trust acquired, will manage and invest in the nine completed and revenue generating Initial Portfolio Assets, aggregating to approximately 682.425 kms, operated and maintained pursuant to concessions granted by the NHAI and owned and operated by the Project SPVs. In addition to the Initial Portfolio Assets, the Trust, through the investment manager, has the right to acquire new projects through a right of first offer with the Sponsor in accordance with the Right of First Offer Agreement (ROFO).
Trilegal acted as a legal advisor to the Trust and the Sponsor. The Book Running Lead Managers were SBI Capital Markets Limited and HDFC Bank Limited. The Units of the Trust were listed on National Stock Exchange of India Limited and BSE Limited on January 17, 2025.
The Trust issued 159,393,750 Units for cash at a price of INR 99 per Unit aggregating to INR 15,779.98 million, comprising a fresh issue of 108,787,800 Units aggregating to INR 10,769.99 million by the Trust (the Fresh Issue) and the Sponsor Selling Unitholder offered 50,605,950 Units aggregating to INR 5,009.99 million (the Offer for Sale and together with the Fresh Issue, the Offer)
The Trilegal Capital Market team was led by our Partner, Abhinav Maker, and comprised Debarpita Pande, Ipsita Sahoo and Mrinal Kumar, Associates.
The Trilegal Competition Team advising on the matter was led by our Partner, Rudresh Singh, and comprised Reshabh Juneja, Counsel; Shaurya Kashyap and Rishitosh Kumar Akshaya, Associates.
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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 M&A Firm of the Year by IFLR Asia-Pacific 2024; Best Overall Law Firms by India Business Law Journal (IBLJ) 2024; Innovative Lawyers Asia-Pacific by Financial Times (FT) 2024; Law Firm of the Year by Deal Volume by VCCircle Awards 2024; India Deal Firm of the Year by Asian Legal Business (ALB) India Law Awards 2023; Best Law Firms to Work by Vahura 2022; Firm of the year for Client Service Excellence by Asia Law Awards 2021.
For more information, please get in touch with Prakruti Jani | Mob: +91-+919867868976 | BD@trilegal.com
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