Citius Transnet Investment Trust IPO

The Trust and the Investment Manager have no operating track record and may not be able to operate the company's business successfully, achieve business objectives or generate sufficient cash flows to make or sustain distributions.

The Special Purpose Combined Financial Statements included in this Offer Document may not accurately reflect the company's future financial position, results of operation and cash flows.

The company has incurred loss before tax amounting to Rs.2,144.17 million, Rs.4,155.32 million, Rs.7,381.41 million and Rs.6,338.31 million in the nine months ended December 31, 2025 and the Financial Years 2025, 2024 and 2023, respectively. Any similar losses in the future may adversely affect its business, financial condition and cash flows.

A significant portion of the company's revenue is concentrated in a few Project SPVs, and any adverse developments affecting these SPVs could materially impact its financial condition, revenue from operations, cash flows and ability to make distributions to Unitholders.

The Formation Transactions or usage of Issue Proceeds will only be given effect to after the Bid/Issue Closing Date, and the company's ability to consummate these transactions will impact the size of the Issue and the ability of the Investment Manager to complete this Offer.

The company's revenues from certain of its Project SPVs are dependent on receiving consistent annuity income and interest on annuity income from NHAI and MoRTH and other compensation payments.

Disruptions to the roadways connecting to the toll roads, including as a result of construction or maintenance activities are outside of the company's control and such disruptions may have an impact on revenue from operations, financial position and cash flows.

The company's toll revenues and traffic volumes depends on regulatory limitations and the number of people using its roads, which in turn are dependent on factors beyond the company's control.

The development or improvement of competing roads, bridges, or alternative modes of transport may reduce traffic volumes and toll collections on the company's toll assets, which in turn could affect its business, financial position, results of operations and cash flows.

Consummation of the Formation Transactions pursuant to which the company will acquire the Project SPVs is subject to certain conditions.