Now Reading: Cyril Amarchand advises Nxt-Infra Trust on ₹700 crore unit placement
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Cyril Amarchand advises Nxt-Infra Trust on ₹700 crore unit placement
Cyril Amarchand advises Nxt-Infra Trust on ₹700 crore unit placement
Nxt-Infra Trust has issued units worth ₹700.15 crore to institutional investors through an institutional placement. The transaction was advised by law firm Cyril Amarchand Mangaldas, which also advised the lead managers NovaaOne…
Nxt-Infra Trust has issued units worth ₹700.15 crore to institutional investors through an institutional placement. The transaction was advised by law firm Cyril Amarchand Mangaldas, which also advised the lead managers NovaaOne Capital Private Limited and Ambit Private Limited.
The InvIT, sponsored by Actis Highway Infra Limited, owns and operates six road project special purpose vehicles covering over 2,000 lane kilometres across Delhi, Haryana, Uttarakhand, Uttar Pradesh and Maharashtra. Cyril Amarchand's capital markets and general corporate teams worked on the deal.
Indian Opinion Analysis
Nxt-Infra Trust is an infrastructure investment trust (InvIT), a structure the Securities and Exchange Board of India (SEBI) created in 2014 to monetise operational assets. InvITs must distribute at least 90% of their net distributable cash flow to unit holders, making them yield vehicles. Actis Highway Infra, the sponsor, is part of London-based Actis, a global investor in energy and infrastructure with Indian road and power assets exceeding $2 billion. The ₹700 crore placement strengthens InvIT equity without adding debt, useful as the National Highways Authority of India targets monetising ₹1.6 lakh crore of highway assets through such trusts by 2025. Unit holders will watch the fund's distributable cash flow in the next quarterly report.
Source: barandbench.com
This brief was synthesised by AI from the source linked above.
