Mint reported Thursday, Oct. 22, that Vertis Infrastructure Trust is targeting public InvIT status in April or May 2027, a move that may broaden investor participation if completed.
Mint said KKR and Ontario Teachers’ Pension Plan may sell a combined 13%–14% stake for more than ₹20 billion (₹2,000 crore), citing two people with direct knowledge. Vertis’s April filing caps a proposed offer for sale at ₹30 billion (₹3,000 crore), but does not confirm the reported sale percentage or value.
Vertis Fund Advisors Private Limited, the trust’s investment manager, approved a proposal on April 24, 2026, to convert Vertis through an offer for sale of existing units. The filing made the proposal subject to unitholder approval, other required approvals and favorable market conditions. Unitholders approved the proposal with the required majority, and the resolution was declared passed May 20.
Vertis’s units have been listed since August 2022, so the plan would change the trust’s status rather than mark its first listing, according to its FY26 investor presentation. The postal-ballot notice says liquidity barriers have historically limited institutional participation in privately listed InvITs. It proposes reducing Vertis’s trading lot to one unit upon conversion, a change expected to improve liquidity and potentially attract a wider investor base. Retail investors would become eligible after conversion.
Under the proposed sale structure, proceeds would go to unitholders who sell units. The notice leaves the allocation of offer expenses between Vertis and selling unitholders to a written agreement.
As of March 31, 2026, Vertis reported 28 operating assets across nine states, spanning 8,428 lane kilometers, and ₹272 billion in assets under management. For FY26, it reported ₹40.045 billion in operating revenue and distributions of ₹18.12 billion, or ₹12 per unit.
Reuters reported in October 2025, citing banker sources, that Vertis was targeting a second-quarter 2026 listing after seeking regulatory clearance. Mint’s current timetable puts the draft offer filing in December 2026 or January 2027, ahead of the spring 2027 target.
