INTERISE
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India New Issue-Interise Trust to raise more than 20 billion rupees via bonds, bankers say
MUMBAI, Oct 14 (Reuters) - India's Interise Trust ITES.NS plans to raise up to 20.75 billion rupees ($233.9 million) through two series of bonds maturing in 19 years, five months and 15 days each, three bankers said on Tuesday.
The Infrastructure Investment Trust will pay a coupon of 6.96% and 7.3014%, respectively, payable quarterly, they said.
"Staggered Redemption for both series will start from December 31, 2025, quarterly thereafter and on maturity as per redemption schedule," one of the bankers said.
One issue has a call option at end of three years and another at end of 10 years, they added.
The trust has invited commitment bids for the issue on Wednesday, they said.
The company did not immediately respond to a Reuters email seeking comment.
Here is the list of deals reported so far on October 14:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Interise Trust | 19 years, 5 months and 15 days | 6.96 | 10.5 | October 15 | AAA (India Rating, Icra) |
Interise Trust | 19 years, 5 months and 15 days | 7.3014 | 10.25 | October 15 | AAA (India Rating, Icra) |
Poonawalla Fincorp | 1 year and 5 months | 7.55 | 25 | October 14 | AAA (Crisil) |
Poonawalla Fincorp 2027 Reissue | 1 year and 9 months | 7.5285 | 5 | October 14 | AAA (Crisil) |
* Size includes base plus greenshoe for some issues
($1 = 88.7000 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sumana Nandy)
MUMBAI, Oct 14 (Reuters) - India's Interise Trust ITES.NS plans to raise up to 20.75 billion rupees ($233.9 million) through two series of bonds maturing in 19 years, five months and 15 days each, three bankers said on Tuesday.
The Infrastructure Investment Trust will pay a coupon of 6.96% and 7.3014%, respectively, payable quarterly, they said.
"Staggered Redemption for both series will start from December 31, 2025, quarterly thereafter and on maturity as per redemption schedule," one of the bankers said.
One issue has a call option at end of three years and another at end of 10 years, they added.
The trust has invited commitment bids for the issue on Wednesday, they said.
The company did not immediately respond to a Reuters email seeking comment.
Here is the list of deals reported so far on October 14:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Interise Trust | 19 years, 5 months and 15 days | 6.96 | 10.5 | October 15 | AAA (India Rating, Icra) |
Interise Trust | 19 years, 5 months and 15 days | 7.3014 | 10.25 | October 15 | AAA (India Rating, Icra) |
Poonawalla Fincorp | 1 year and 5 months | 7.55 | 25 | October 14 | AAA (Crisil) |
Poonawalla Fincorp 2027 Reissue | 1 year and 9 months | 7.5285 | 5 | October 14 | AAA (Crisil) |
* Size includes base plus greenshoe for some issues
($1 = 88.7000 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sumana Nandy)
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Popular questions
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What does Interise Trust do?
IndInfravit Trust (InvIT) is an irrevocable trust registered under the provisions of the Indian Trusts Act, 1882 on March 07, 2018. It is registered under the Securities and Exchange Board of India (Infrastructure Investment Trust) Regulations, 2014 on March 15, 2018. The Trust has been formed to invest in infrastructure assets primarily being in the road sector in India. All of the Trust’s Road projects are implemented and held through special purpose vehicles (Project SPVs / Subsidiaries). The units of the Trust were listed in Bombay Stock Exchange and National Stock Exchange on May 09, 2018.
Who are the competitors of Interise Trust?
Interise Trust major competitors are Anantam Highways, Brookfield IndiaReal, First Custodian Fund, Kanungo Financiers, Futuristic Sec, Karnavati Finance, SSPN Finance. Market Cap of Interise Trust is ₹0 Crs. While the median market cap of its peers are ₹4 Crs.
Is Interise Trust financially stable compared to its competitors?
Interise Trust seems to be less financially stable compared to its competitors. Altman Z score of Interise Trust is -0.13 and is ranked 8 out of its 8 competitors.
Does Interise Trust pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Interise Trust latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%
How has Interise Trust allocated its funds?
Companies resources are majorly tied in miscellaneous assets
How strong is Interise Trust balance sheet?
Interise Trust balance sheet is weak and might have solvency issues
Is the profitablity of Interise Trust improving?
Yes, profit is increasing. The profit of Interise Trust is -₹71.4 Crs for Mar 2025, -₹157.13 Crs for Mar 2024 and -₹400.55 Crs for Mar 2023
Is the debt of Interise Trust increasing or decreasing?
Yes, The net debt of Interise Trust is increasing. Latest net debt of Interise Trust is ₹6,645 Crs as of Mar-25. This is greater than Mar-24 when it was ₹6,533 Crs.
Is Interise Trust stock expensive?
There is insufficient historical data to gauge this. Latest PE of Interise Trust is 0
Has the share price of Interise Trust grown faster than its competition?
Interise Trust has given better returns compared to its competitors. Interise Trust has grown at ~1.11% over the last 4yrs while peers have grown at a median rate of 1.0%
Is the promoter bullish about Interise Trust?
There is Insufficient data to gauge this.
Are mutual funds buying/selling Interise Trust?
There is Insufficient data to gauge this.
