Capital Infra Trust raises Rs 23.63 billion through debt securities

Capital Infra Trust, a roads sector infrastructure investment trust (InvIT), has raised Rs 23.63 billion through the issuance of two series of debt securities. Of the two, the first issuance consisted of 116,300 units of senior secured redeemable, non-convertible debt securities (NCDs) with a face value of Rs 0.1 million each, raising Rs 11.63 billion. This issue was subscribed by investors including HDFC Bank and IndusInd Bank. Additionally, the trust has allocated 120,000 units of listed redeemable NCDs on a private placement basis, each with a face value of Rs 0.1 million, amounting to Rs 12 billion. This issue was subscribed to by Infrastructure Finance Company Limited (IIFCL) and ICICI Bank. The proceeds will be used to refinance high-cost debt instruments of special purpose vehicles (SPVs).