Citius TransNet Investment Trust units end over 6 pc higher in market debut trade

The units of Citius TransNet Investment Trust, a transport sector-focused infrastructure investment trust (InvIT), settled over 6 per cent higher against the issue price of Rs 100 per unit in their debut trade on Wednesday. The unit started trading at Rs 104.50, up 4.5 per cent from the issue price on the BSE. During the day, it jumped 7.13 per cent to Rs 107.13. It finally ended at Rs 106.19, a gain of 6.19 per cent. At the NSE, the unit listed at Rs 104.60, registering a jump of 4.6 per cent. The units of the firm ended at Rs 106.23, up 6.23 per cent. Its market valuation stood at Rs 6,477.59 crore. The initial public offering of Citius TransNet Investment Trust received 20.43 times subscription on the closing day of bidding on Tuesday last week. InvITs are a type of investment vehicle that allows investors to invest in infrastructure projects. The Rs 1,105-crore IPO of the InvIT had a price band of Rs 99 to Rs 100 per unit. Proceeds from the issue will be used for partial or full acquisition of securities of SRPL Roads Pvt Ltd and certain identified project special purpose vehicles, including Thrissur Expressway Ltd, Jorabat Shillong Expressway Ltd, Dhola Infra Projects Pvt Ltd and Dibang Infra Projects Pvt Ltd, as well as for general corporate purposes. Citius TransNet Investment Trust is a transport sector-focused InvIT, established with an objective to acquire, manage and invest in a portfolio of transport infrastructure assets, including roads, in India.

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