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CAPITAL RAISING • PUBLIC INFRASTRUCTURE OFFERINGS

Public Listings for Infrastructure Investment Trusts

Structuring, SEBI clearance, and institutional syndication for Publicly Listed Infrastructure Investment Trusts.

Book Mandate Consultation Check Diagnostic & Tools

₹500 Cr

Minimum Asset Size

80% Revenue Generating

Asset Quality

90% Net Cash Flow

Mandatory Distribution

Minimum 25% Units

Public Float Norm

STRATEGIC OVERVIEW

Promoter-First Advocacy in InvIT Public Issue Advisory

A Public InvIT is an institutional powerhouse designed to monetize large-scale operational infrastructure projects—including national highways, power transmission lines, solar installations, and gas pipelines. Governed by the SEBI (Infrastructure Investment Trusts) Regulations, 2014, public InvITs allow retail and institutional investors to invest in high-yield infrastructure assets. Executing a public InvIT issue requires transferring operating SPVs into the Trust, securing independent technical and financial valuations, obtaining investment-grade credit ratings (AAA/AA+), drafting the Draft Offer Document for SEBI review, and orchestrating roadshows with pension funds and sovereign wealth investors. Glocal Consultants provides end-to-end guidance through every phase of the public offering.

DELIVERABLES & SCOPE

What Glocal Delivers on Your Mandate

Infrastructure Asset Ring-Fencing

Selecting operational concessions with long-term concession agreements (NHAI, PGCIL, SECI) meeting SEBI's 80% revenue-generating test.

Trustee, Manager & SPV Entity Formation

Structuring the regulatory four-tier framework with qualified independent trustees and experienced project managers.

Draft Offer Document (DOD) Drafting

Forensic drafting of the offer document including 3-year historical cash flows, traffic/generation studies, and risk factors.

Credit Rating & Independent Valuation

Managing credit rating mandates to secure AAA/AA+ status and independent valuation reports from registered valuers.

Sovereign & Pension Fund Syndication

Marketing the anchor book to global long-term institutional capital (CPPIB, CDPQ, OTPP, NPS, domestic life insurance funds).

Public Book-Building & Exchange Listing

Managing the 3-day public bidding process, allotment, and secondary listing on NSE and BSE.

REGULATORY BENCHMARKS

Statutory Eligibility & Criteria

Governed under SEBI (Infrastructure Investment Trusts) Regulations, 2014 (Public Issue Framework):

Statutory Metric	Regulatory Requirement
Minimum Asset Size	Aggregate value of infrastructure assets owned by the InvIT must be at least ₹500 Cr
Revenue-Generating Test	At least 80% of asset value must be invested in completed and revenue-generating infrastructure assets
Under-Construction Exposure	Maximum 20% of asset value in under-construction assets, government securities, or cash
Sponsor Track Record	Sponsor must have net worth of at least ₹100 Cr and 5+ years track record as infrastructure developer
Sponsor Lock-In	Minimum 15% units locked in for 3 years; additional units locked in for 1 year

EXECUTION WORKFLOW

5-Stage Milestone Roadmap

Asset Selection & Cash Flow Modeling

Selecting revenue-generating assets, traffic/generation audits, and independent valuation.

Trust & Entity Registration

Registering Trust with SEBI, appointing Trustee, Investment Manager, and Project Manager.

DOD Drafting & SEBI Clearance

Filing Draft Offer Document with SEBI and stock exchanges, responding to regulatory comments.

Anchor Book & Institutional Roadshows

Securing anchor allocations from domestic mutual funds, insurance, and international pension funds.

Public Bidding & Listing

Executing public book-building, allotment finalization, and trading bell ringing at NSE/BSE.

VALUE REALIZATION

Strategic Advantages for Issuers

✓Monetize Billions in Infrastructure Capex and Free Up Capital for New Bidding

✓Perpetual Access to Global Long-Horizon Institutional Capital (Pension & Sovereign Funds)

✓Pass-Through Tax Benefits Under Indian Income Tax Provisions

✓High Trading Liquidity and Broad Retail/HNI Unitholder Base

✓Lower Cost of Debt Borrowing (Public InvITs Command Lowest Bond Yields)

✓Substantial Ongoing Management and Project Management Fee Revenues for Sponsors

FREQUENTLY ASKED QUESTIONS

Mandate FAQs & Clarifications

SEBI has reduced the trading lot size and minimum application value for publicly offered InvITs to 1 unit (typically ranging from ₹100 to ₹150 per unit), putting it on par with ordinary listed equities.

Strategic Promoter Access

Schedule a Consultation for InvIT Public Issue Advisory

Schedule an exclusive, non-disclosure advisory session with our senior capital markets partners. We evaluate your listing feasibility, capital structure, and valuation multiples.

Confidential Advisory RequestAll discussions strictly covered under bilateral Non-Disclosure (NDA).

Partner Desk

Direct Partner Contacts

Direct Advisory Hotline

+91 96257 55789

Corporate Inquiries

info@glocalconsultants.com

Corporate Headquarters

Glocal Consultants Private Limited
C-1119, KLJ Noida One,
Sector 62, Noida - 201309

Hours: Mon – Fri: 9:30 AM – 6:30 PM IST
Advisory desks in Noida, Mumbai & Bangalore