Transitioning to a Public InvIT
Expanding and Diversifying Unitholder Base
We have significantly broadened our investor base since listing, attracting a diverse mix of institutional investors, family offices, high-net-worth individuals, and retail participants.
Setting the Benchmark Ahead of Transition
The evolution of our ownership structure reflects growing confidence in the Trust’s asset quality, distribution track record, and governance standards. A more diversified unitholder base strengthens market depth and liquidity, positioning the Trust well for a successful transition to a public InvIT platform.
Strategic Rationale for Public Conversion
Our proposed conversion, in line with the framework of the Securities and Exchange Board of India (‘SEBI’), is aimed at strengthening three core pillars: capital access, liquidity & cost efficiency, while enhancing our positioning within India’s capital markets. This transition will be supported by a proposed Offer for Sale (OFS), enabling wider investor participation and facilitating the move to a publicly listed platform.
Why Public Listing?
Access to Broader Capital Pools
Public listing will enable us to tap into a wider investor universe, including mutual funds, insurance companies, pension funds and HNIs. These segments have historically had limited participation in privately listed InvITs due to liquidity constraints and valuation visibility.
Improved Liquidity and Market Efficiency
A publicly listed structure is expected to enhance liquidity, support better price discovery, and provide greater flexibility for unitholders. This will create a more efficient and active market for our units.
Lower Cost of Capital
Greater liquidity and a diversified investor base are expected to translate into a more competitive cost of capital, strengthening our ability to fund growth and optimize returns.
Enablers
Seamless Transition, Backed by Readiness
Our existing governance standards, disclosure practices and operational maturity enable a smooth and low-friction transition. This is further supported by a favourable regulatory environment, including relaxed lock-in requirements for non-sponsor unitholders.
Draft Offer Document (DoD) filed with SEBI on March 17, 2026