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NHAI-sponsored Raajmarg Infra Investment Trust (RIIT) is set to launch its maiden Initial Public Offering (IPO) worth INR 6,000 crore, marking a significant step in expanding public participation in India's national highway monetisation programme. The IPO will open on March 11 and close on March 13, with anchor investor bidding scheduled for March 10. According to the Red Herring Prospectus, the issue size has been increased from the earlier proposed INR 5,700 crore to INR 6,000 crore. The public InvIT aims to unlock long-term value from operational national highway assets while offering a stable investment avenue for retail and domestic investors. The move aligns with the government's broader infrastructure financing and asset monetisation strategy.
State-owned National Highways Authority of India (NHAI)-sponsored Raajmarg Infra Investment Trust is preparing to tap the capital markets with an Initial Public Offering aggregating up to INR 6,000 crore. The public issue will open for subscription on March 11 and conclude on March 13, while anchor investors will place bids a day earlier on March 10, as per a public announcement issued on Monday. Advertisement
The IPO represents the maiden public offering by the InvIT and is positioned as a key milestone in broadening investor participation in India's national highway development and monetisation journey. Through this offering, RIIT aims to provide access to a portfolio of operational road assets, packaged as a long-term yield-generating investment instrument, with a particular focus on retail and domestic investors.
According to the Red Herring Prospectus, the total issue size has been enhanced to INR 6,000 crore, compared with the INR 5,700 crore proposed at the draft prospectus stage filed earlier this year. The upward revision reflects the scale of assets being monetised and the funding requirements tied to the InvIT's growth and capital structure.
Raajmarg Infra Investment Trust has been structured as part of NHAI's broader asset monetisation framework, under which completed and revenue-generating highway projects are transferred into investment vehicles to unlock capital for new infrastructure development. The proceeds from such monetisation are intended to support fresh highway construction and reduce reliance on traditional budgetary support.
To manage the InvIT, NHAI had earlier incorporated Raajmarg Infra Investment Managers Pvt. Ltd. (RIIMPL) as the investment manager. RIIMPL is backed by equity participation from a consortium of leading banks and financial institutions, including State Bank of India, Punjab National Bank, NaBFID, Axis Bank, HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank, Yes Bank, and Bajaj Finserv Ventures.
The proposed IPO underscores the growing role of InvITs in India's infrastructure financing ecosystem, offering developers and authorities a mechanism to recycle capital while providing investors exposure to stable, long-duration infrastructure assets.
Source - PTI
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