Two major Indian infrastructure investment trusts (InvITs) — Oriental Infratrust and IRB InvIT Fund — are gearing up for their first-ever bond issuances, collectively aiming to raise over ₹26 billion ($297 million) between October and November, according to banking sources.
📊 Key Details
- Oriental Infratrust: to raise ₹8.3 billion via a mix of 3-year and 14+ year notes.
- IRB InvIT Fund: targeting ₹18 billion through 5-year and 10-year bonds.
- Both issues hold top-tier ‘AAA’ credit ratings from agencies including Crisil, India Ratings, and Care Ratings.
🏦 Why It Matters
These issues mark a growing trend of InvITs tapping debt markets to finance infrastructure growth — diversifying away from equity fundraising. Since the SEBI framework for InvITs launched a decade ago, 10 InvITs have accessed bond markets, with more joining in 2025.
The sector now includes 27 SEBI-registered InvITs, managing assets over ₹7 trillion and boasting a combined market capitalization of ₹2.4 trillion, per data from the Bharat InvITs Association (BIA).
💡 Context
InvITs function similarly to mutual funds but invest directly in infrastructure assets, allowing investors — from institutions to individuals — to earn returns from dividends, interest, and capital appreciation.
With infrastructure driving India’s economic momentum, InvITs are emerging as a crucial financing vehicle for roads, energy, and utilities — providing both steady yields and long-term stability to investors.