Capital Infra Trust, formerly known as National Infrastructure Trust, is an infrastructure investment trust (InvIT) focused on investing in national highway projects in India. The trust was established on September 25, 2023, by its sponsor Gawar Construction Limited (GCL) and was settled through a Trust Deed in accordance with SEBI InvIT Regulations. It was registered with SEBI on March 7, 2024, and subsequently changed its name to Capital Infra Trust in October 2024.

The Sponsor, Gawar Construction Limited, is an established infrastructure development and construction company with over 15 years of experience in executing road and highway projects across 19 states in India. Since 2008, GCL has undertaken more than 100 road construction projects for various government and semi-government bodies, including NHAI, the Ministry of Road Transport & Highways (MoRTH), MMRDA, and CPWD. The Sponsor currently holds a portfolio of 26 Hybrid Annuity Model (HAM) road projects with NHAI, comprising 11 completed projects and 15 under-construction projects, including assets acquired from Sadbhav Infrastructure Project Limited.

Capital Infra Trust manages its infrastructure assets through Special Purpose Vehicles (SPVs), with each operational highway project functioning as an independent entity within the InvIT structure. Gawar Investment Manager Private Limited, incorporated in August 2023, acts as the Investment Manager, while Axis Trustee Services Limited serves as the sole Trustee of the Trust. The Sponsor has also been appointed as the Project Manager for the respective project SPVs, ensuring operational continuity and execution expertise.

The Trust launched its initial public offering in January 2025, raising ₹1,578 crore by issuing an aggregate of 159.39 million units. The issue comprised a fresh issue of 108.79 million units aggregating to ₹1,078 crore and an offer for sale of 50.61 million units aggregating to ₹500 crore by the Sponsor Selling Unitholder.