Capital Infra Trust has made a qualified institutions placement aggregating to ₹1,250 crore through issuance of 172,890,733 units.
The Trust also made a preferential issue aggregating to ~₹345 crore through issuance of 43,261,000 units to Gawar Construction Limited.
Trilegal advised Capital Infra Trust on both the QIP and the preferential issue, as well as lead managers to the QIP, SBI Capital Markets Limited, HDFC Bank Limited and Motilal Oswal Investment Advisors Limited.
The transaction team was led by Abhinav Maker (Partner), and consisted of Ajo Jomy (Counsel), Associates Jayant Saxena, Ipsita Sahoo, Mrinal Kumar, Kalyan Reddy, Varda Saxena, and K Prashant Agrawal, and Revant Gupta (Trainee Associate).
Rudresh Singh (Partner), Reshabh Juneja (Counsel) and Associates Kunal Singh and Rakshit Sharma advised on Competition law aspects.
Hogan Lovells acted as the US Counsel for Capital Infra Trust on the QIP.
The transaction team was led by Biswajit Chatterjee (Head of the India Practice and Dubai Office Managing Partner), with support from Kaustubh George (Counsel) and Aditya Rajput (Senior Associate).
The proceeds of the QIP are to be used by Capital Infra Trust for funding the acquisition of three target SPVs from Gawar Construction and providing shareholder loans to the target SPVs for repayment or prepayment of the subordinated debt and unsecured loans availed by the target SPVs.
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