National Infrastructure Trust, backed by Gawar Construction, files a Rs 1,600 crore IPO with Sebi.
National Infrastructure Trust (NIT), backed by Gawar Construction, files for a Rs 1,600 crore IPO with Securities and Exchange Board of India (Sebi). The offering includes a fresh issue of units worth up to Rs 1,200 crore and an offer for sale of units worth Rs 400 crore by the sponsor. Funds from the IPO will be used to pre-pay external borrowings and repay unsecured loans by project SPVs. The IPO will be made through a book-building process, with 75% reserved for institutional investors and 25% for non-institutional investors, with Gawar Construction subscribing to 15% of the total post-issue unit capital.
August 27, 2024
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