India Infrastructure Trust – Listing of equity shares of India Infrastructure Trust


Khaitan & Co acted as legal counsel to JM Financial Limited, lead manager to the initial offer of units

to JM Financial Limited acted as lead manager to the initial offer of units representing an undivided beneficial interest in India Infrastructure Trust through a private placement to eligible investors at a price of INR 100 per Unit in accordance with Securities and Exchange Board of India Regulations, 2014, as amended.

The Issue comprised of allotment of 95.2 million Units aggregating INR 9,520 million. In addition to the Issue, 568.80 million Units were also allotted to the Sponsor for a cash consideration of INR 56,880 million. Further, the Trust has also issued up to 63,700 secured, listed, redeemable, non-convertible debentures having a face value of INR 1,000,000 each for an aggregate amount of up to INR 63,700 million.

Accordingly, the aggregate amount raised by the Trust is INR 130,100 million (~USD 1890 million) making this the largest fund raise by an InvIT in India. The Trust is the first listed ‘white label’ InvIT in India.

Khaitan & Co acted as legal counsel to JM Financial Limited with a team including Sudhir Bassi, Navodita Gupta, Ashima Gulati and Drishti Barar with assistance from Abhimanyu Bhattacharya (Picture)

Involved fees earner: Sudhir Bassi – Khaitan & Co.; Abhimanyu Bhattacharya – Khaitan & Co.;

Law Firms: Khaitan & Co.;

Clients: JM Financial;