Citius Transnet InvIT IPO
Real Estate Investment Trusts • ₹1105 Cr
High risk because:
- Loss-making or weak profitability noted in DRHP
- 5 material risk factors disclosed in DRHP
- Heavy dependence on government or PSU customers
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹100
Lot Size
150 shares
Issue Size
₹1105 Cr
Open
17 Apr 2026
Close
21 Apr 2026
Subscription
10.0×
IPO Schedule
| Issue Open Date | 17 Apr 2026 |
| Issue Close Date | 21 Apr 2026 |
| Listing Date | 28 Apr 2026 |
About Citius Transnet InvIT
Note: As per regulations, application cancellation is not allowed for any category. CITIUS is a transport sector-focused infrastructure investment trust that acquires, manages, and invests in transport infrastructure assets, primarily road projects in India. It operates through a portfolio of toll and annuity-based road assets held via project special purpose vehicles (SPVs) and holding companies. It is responsible for managing these assets, including toll collection, annuity income, and maintenance through a project manager. Subject to completion of the formation transactions, its initial portfolio is proposed to comprise 10 toll and annuity road projects spanning 3,406.71 lane-kilometres across nine Indian states. The trust was registered with SEBI as an infrastructure investment trust (InvIT) on August 1, 2025, and operates through its sponsor group, with an investment manager overseeing investment activities and a project manager responsible for operations, maintenance, and compliance with concession agreements. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: For partial or full acquisition (or as applicable, redemption) of securities of a) SRPL; and b) certain identified Project SPVs, namely TEL, JSEL, Dhola and Dibang — Rs 1,000 crore General corporate purposes
Company Details
Founders / Promoters
Mr. Rahul Ranjan Choudhary
Founded
2025
Registrar
KARVY
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Citius Transnet InvIT — IPOFins Verdict
QuantitativeDriven by QIB demand at 8.5x and elevated disclosed risk (7/10), Citius Transnet InvIT listed at a premium of 4.6% to its issue price. The picture is mixed — treat this as one input alongside the DRHP, valuation, and your own risk appetite.
- The trust claims to have a relatively large and diversified portfolio of road assets, comprising both toll and annuity-based projects across multiple states. These assets have a relatively long operat
- The trust claims to benefit from a right of first offer (ROFO) arrangement for the acquisition of additional road assets from the EAAA platform. (EAAA TransInfra Managers Limited is the investment man
- The asset portfolio is positioned across different geographies and is connected to key economic and industrial corridors. A significant portion of toll revenue is derived from economically active stat
- The trust claims to maintain a mix of toll and annuity assets, which diversifies its revenue sources. Toll assets contribute a majority of revenue, while annuity assets provide fixed payments from gov
- The trust claims to have in-house asset management capabilities supported by the project manager. Its teams are involved across the asset life cycle, including operations, maintenance, and monitoring.
Score breakdown — what drove this verdict
High risk from DRHP → score -0.8
Institutional subscription → score +1.0
Actual listing outcome → score +0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹100
Listing Price
₹104.6
Listing Gain/Loss
+4.60%
Listing Date
28 Apr 2026
Price Since Listing
Returns are measured against the ₹100 issue price.
Listing
₹104.6
+4.6%
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FAQ
What is the price band of Citius Transnet InvIT IPO?
The price band is ₹100 per share with a lot size of 150 shares. Minimum investment: ₹15,000.
What does Citius Transnet InvIT do?
Note: As per regulations, application cancellation is not allowed for any category. CITIUS is a transport sector-focused infrastructure investment trust that acquires, manages, and invests in transport infrastructure assets, primarily road projects in India. It operates through a portfolio of toll and annuity-based road assets held via project special purpose vehicles (SPVs) and holding companies. It is responsible for managing these assets, including toll collection, annuity income, and maintenance through a project manager. Subject to completion of the formation transactions, its initial portfolio is proposed to comprise 10 toll and annuity road projects spanning 3,406.71 lane-kilometres across nine Indian states. The trust was registered with SEBI as an infrastructure investment trust (InvIT) on August 1, 2025, and operates through its sponsor group, with an investment manager overseeing investment activities and a project manager responsible for operations, maintenance, and compliance with concession agreements. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: For partial or full acquisition (or as applicable, redemption) of securities of a) SRPL; and b) certain identified Project SPVs, namely TEL, JSEL, Dhola and Dibang — Rs 1,000 crore General corporate purposes
Should I apply for Citius Transnet InvIT IPO?
Citius Transnet InvIT listed at ₹104.6 (+4.6% premium to the ₹100 issue price) after 10.0x subscription. IPOFins Score 6/10: Driven by QIB demand at 8.5x and elevated disclosed risk (7/10), Citius Transnet InvIT listed at a premium of 4.6% to its issue price. The picture is mixed — treat this as one input alongside the DRHP, valuation, and your own risk appetite.
Who founded Citius Transnet InvIT?
Citius Transnet InvIT was founded by Mr. Rahul Ranjan Choudhary in 2025.