Highway-focused Vertis InVIT targets draft IPO filing by January 2027

Mumbai-based infrastructure investment trust Vertis Infrastructure Trust has set a target of January 2027 to file its draft offer documents with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).

Senior officials addressing the media stated that the proposed public offering is planned to hit the market by April 2027. The upcoming IPO will be entirely an offer for sale (OFS).

The board approved the decision to proceed to the market following a formal approval process initiated in April this year. Promoters KKR and the Ontario Teachers’ Pension Plan (OTPP) currently hold approximately a 57 percent stake in the company. Through the proposed OFS, they are expected to divest a 13 percent stake.

Additionally, the infrastructure investment trust has approved Axis, Avendus, Ambit, and SBI Capital Markets as its bankers for the public issue, though formal finalisation is pending.

Vertis Infrastructure Trust primarily manages highway assets in India.

"The planned IPO by Vertis Infrastructure Trust demonstrates the growing maturity of India's infrastructure investment trust segment. With established institutional backers like KKR and the Ontario Teachers’ Pension Plan looking to divest a 13 percent stake through an offer for sale, this move highlights a clear exit and monetisation pathway for large private equity investors in Indian highway assets." — Dr. Shishir Gupta, Founder & CEO, StartupLanes