Vertis Infrastructure Trust, backed by global investment firm KKR and the Ontario Teachers’ Pension Plan, has appointed Axis Capital, Ambit Capital, and Avendus Capital to manage its proposed Indian initial public offering (IPO) worth up to $568 million, according to investment banking sources.
The infrastructure investment trust (InvIT) plans to seek regulatory approval before December 2025, with a potential market debut targeted for the second quarter of 2026, one of the sources said.
The planned IPO comes amid buoyant market conditions, with Indian equities trading near record highs. So far in 2025, companies have collectively raised around $16 billion through public market offerings, positioning India as the third-largest market globally for new listings, according to Dealogic data.
Vertis Infrastructure Trust functions as an InvIT, a structure that allows investors to pool funds in income-generating infrastructure assets. The trust currently manages assets worth approximately $3 billion, according to its official website.
The IPO is expected to expand the trust’s investor base and improve liquidity for existing stakeholders.
India currently has 27 registered InvITs, but only six are publicly listed on domestic exchanges. The growing number of private InvITs seeking listings reflects the increasing investor interest in infrastructure-linked investment vehicles.
