Allotment of 1,73,700 NCDs Aggregating Rs. 1,737 Crores Approved

Interise Trust has allotted debentures worth Rs. 1,737 Crores.

Tue 29 Sep 2026

Debenture Amount

Rs. 1,737 Crores

Number of Debentures

1,73,700

Debenture Type

Senior, secured, rated, listed, redeemable, non-convertible debentures

Series

Series I, Series II and Series III

Approval Date

September 29, 2026

What was announced

Interise Trust, an infrastructure investment trust (InvIT), has completed the allotment of debentures raising a face value amount of Rs. 1,737 Crores.

• Number of debentures allotted: 1,73,700
• Nature: senior, secured, rated, listed, redeemable, non-convertible debentures
• Split into Series I, Series II and Series III
• Approved by the Investment & Finance Committee of Interise Investment Managers Private Limited, the investment manager to the trust, on September 29, 2026
• Follows the earlier intimation dated September 21, 2026
• The debentures will be listed with BSE Limited in due course

Understanding the terms

Non-convertible debentures (NCDs) are debt instruments — the trust borrows money and repays it with interest; they cannot be converted into units. "Senior, secured" means the lenders rank ahead of certain other claims and have security backing. "Redeemable" means they are repaid on maturity. Issuing them in three series allows different tenors or terms within the same overall fund-raise.

How investors may read this

InvITs typically own operating infrastructure assets and use a mix of debt and unitholder capital. A debt raise of this size is generally used for purposes such as refinancing existing borrowings or funding assets. For unitholders, the key considerations over time are the cost of this borrowing and the overall leverage of the trust, since interest obligations rank ahead of distributions.

The update confirms that the allotment step is complete and that listing of the debentures on BSE will follow.

Parties involved

• Trustee to Interise: IDBI Trusteeship Services Limited
• Debenture Trustee: Axis Trustee Services Limited
• Issuer and Paying Agent: ICICI Bank Limited

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