Vertis Raises Rs 9 billion via SLB, Sets InvIT Benchmark

23 Jul 2025 CW Team

Vertis Infrastructure Trust (formerly Highways Infrastructure Trust), a SEBI-registered Infrastructure Investment Trust (InvIT), has raised Rs 9 billion through a Sustainability-Linked Bond (SLB), the largest such issuance by an Indian InvIT to date. The 10-year fixed-rate bond, priced at 7.40 per cent, was anchored by the International Finance Corporation (IFC) with an investment of Rs 4.5 billion.

This landmark issuance underlines growing global confidence in India’s ESG-focused infrastructure financing landscape. The SLB features predefined sustainability performance targets, linking interest rates to ESG outcomes, in line with international best practices.

Proceeds from the bond will fund TOT-16, a 252-km NH-44 highway corridor in Telangana aimed at enhancing regional connectivity. The bond also received domestic backing from India Infrastructure Finance Company Limited (IIFCL), signalling broader institutional support for sustainability-linked finance.

“This issuance reflects our commitment to responsible growth,” said Gaurav Chandna, Executive Director and Joint CEO, Vertis Infrastructure Trust. “With IFC and IIFCL’s support, we are proud to channel ESG-linked capital into India’s infrastructure sector.”

Abhishek Chhajer, CFO, added, “This long-tenor, fixed-rate SLB structure is a replicable model that diversifies our investor base while aligning with India’s climate goals.”

Imad N. Fakhoury, Regional Director, South Asia, IFC, noted, “Our anchor investment helps establish roads as a credible asset class, advancing sustainable infrastructure and capital market development in India.”

Vikram Kumar, Director & Regional Head, IFC, Asia Pacific, said, “This SLB links financing with measurable outcomes, fosters transparency, and supports greater inclusion in infrastructure operations.”

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