Trilegal led on the Bharat Highways InvIT’s public offering
Trilegal provided legal counsel to G R Infraprojects Limited regarding the public offering of units by Bharat Highways InvIT, an infrastructure investment trust dedicated to acquiring, managing, and investing in a portfolio of infrastructure assets across India.
At the time of the offering, Bharat Highways initial portfolio consisted of seven road projects, all operating under the hybrid annuity model and awarded by NHAI, ensuring a steady annuity flow for Bharat Highways.
This transaction represents the fourth public InvIT in India, and notably, it is the first such offering since 2021.
With a subscription rate of 8.01 times, amounting to Rs. 24,999.99 million, this public InvIT offering stands as the most subscribed to date. Institutional investors subscribed 8.92 times, while other investors’ category recorded a subscription rate of 6.93 times.
The deal was led by Capital Markets Partner Abhinav Maker, with support from Senior Associate Vinaya, and Associate, Veena Raghav.
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