Roadstar Infra InvIT Listed on NSE as Part of IL&FS Debt Resolution

13 Mar 2025 CW Team

Roadstar Infra Investment Trust (InvIT), a fully owned subsidiary of Infrastructure Leasing & Financial Services (IL&FS), has made its debut on the National Stock Exchange (NSE) following the distribution of its units, which represent six underlying road assets. The enterprise valuation of these units stands at Rs 8,592 crore, with a face value of Rs 100 each.

This listing marks an important milestone in the ongoing debt resolution process for IL&FS. It follows an interim distribution of Rs 5,000 crore to creditors, which consists of Rs 3,500 crore in InvIT units and Rs 1,500 crore in cash.

Roadstar Infra Investment Trust now holds a market capitalisation of Rs 4,554.77 crore.

The distribution of units reveals that Rs 4,554.77 crore worth of units were issued, with 78% (Rs 3,550 crore) allocated to eligible creditors as public holding. The sponsor retains a 15% stake (Rs 688.06 crore), which is locked in for a period of three years. Existing unitholders hold 7% (Rs 316.71 crore), with a one-year lock-in. Following the listing, the total number of unitholders stands at 223, indicating a predominance of institutional or large investors rather than widespread retail participation.

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