Description

NSE announces listing of 43,261,000 units of Capital Infra Trust allotted via preferential issue at Rs. 79.75, effective November 18, 2025, with lock-in periods ranging from November 2026 to November 2028.

Summary

National Stock Exchange of India has approved the listing of 43,261,000 units of Capital Infra Trust (Symbol: CAPINVIT) on the Capital Market segment. These units were allotted through a preferential issue on November 13, 2025, at an issue price of Rs. 79.75 per unit. The units will be admitted to trading effective November 18, 2025, under ISIN INE0Z8Z23013 (Series IV). The allotment includes two tranches with different lock-in periods.

Key Points

  • Total Units Allotted: 43,261,000 units via preferential issue
  • Issue Price: Rs. 79.75 per unit
  • Date of Allotment: November 13, 2025
  • Trading Commencement: November 18, 2025
  • Symbol: CAPINVIT
  • ISIN: INE0Z8Z23013 (Series IV)
  • Distinctive Number Range: 275400001 to 318661000
  • Pari Passu: Yes (equal ranking with existing units)
  • Temporary ISIN: Units initially credited under temporary ISIN (IN8*********) as per SEBI circular guidelines

Lock-in Details

Tranche 1: 6,489,150 units

  • Distinctive Numbers: 275400001 to 281889150
  • Lock-in Expiry: November 30, 2028 (3-year lock-in)

Tranche 2: 36,771,850 units

  • Distinctive Numbers: 281889151 to 318661000
  • Lock-in Expiry: November 30, 2026 (1-year lock-in)

Regulatory Framework

This listing is governed by:

  • Regulation 3.1.1 of NSE (Capital Market) Trading Regulations Part A (admission to dealings)
  • Regulation 2.5.5 of NSE (Capital Market) Trading Regulations Part A (lot size specifications)
  • SEBI Circular CIR/MRD/DP/21/2012 dated August 02, 2012 (temporary ISIN for additional issues)
  • SEBI Circular CIR/MRD/DP/24/2012 dated September 11, 2012 (ISIN activation procedures)

Compliance Requirements

  • Units are allotted in dematerialized form only
  • Trading participants must use designated security codes (CAPINVIT) for identification
  • Lot sizes as specified in the annexure must be followed for trading
  • Lock-in provisions must be enforced as per the specified expiry dates for respective tranches

Important Dates

  • November 13, 2025: Date of allotment
  • November 17, 2025: Circular issue date
  • November 18, 2025: Effective date for trading commencement
  • November 30, 2026: Lock-in expiry for 36,771,850 units (84.99% of total)
  • November 30, 2028: Lock-in expiry for 6,489,150 units (15.01% of total)

Impact Assessment

Market Impact: The preferential allotment of 43.26 million units represents a substantial increase in the unit base of Capital Infra Trust. With approximately 85% of the newly allotted units having a shorter 1-year lock-in period (expiring November 2026), there could be increased supply pressure on the market once this lock-in expires.

Liquidity Impact: Trading will commence on November 18, 2025, but actual tradable float will be limited until lock-in periods expire. The staggered lock-in structure (1-year for 85% and 3-years for 15%) will create phased liquidity events.

Investor Impact: Existing unitholders will experience dilution from this preferential issue. The Rs. 79.75 issue price will serve as a reference point for valuation. Investors should monitor the pricing relative to market prices and assess the preferential allottees’ intentions post lock-in expiry.

Operational Impact: The use of temporary ISIN initially requires coordination between depositories and the trust for eventual transfer to permanent ISIN, which is standard procedure for additional issues per SEBI guidelines.

Impact Justification

Significant preferential allotment of 43.26 million units in an InvIT with staggered lock-in periods, representing material dilution for existing unitholders with medium-term impact on trading liquidity