Bharat Highways InvIT to raise Rs 20 billion via IPO

27 Dec 2022 CW Team

Infrastructure investment trust Bharat Highways InvIT has filed draft prospectus with the capital markets regulator Sebi to mop-up Rs 20 billion through an initial public offering (IPO). Proceeds of the issue will be used to repay certain loans obtained by the Project SPVs (special purpose vehicles) and for general corporate purposes, according to the draft red herring prospectus (DRHP).

These SPV projects include Porbandar-Dwarka Expressway, Varanasi-Sangam Expressway, GR Sangli-Solapur Highway, GR Akkalkot-Solapur Highway, GR Phagwara Expressway and GR Gundugolanu-Devarapalli Highway.

Bharat Highways InvIT was set up in August 2022 to acquire 100 per cent stake in each of Project SPVs from GR Infrastructure including GDDHPL, wherein the InvIT proposes to initially acquire 49 per cent stake.

As per the draft papers, Bharat Highways InvIT (infrastructure investment trust) would issue units aggregating up to Rs 2,000 crore. The issue will be made through the book building process wherein 75 per cent of the portion size will be available to institutional investors and the remaining 25 per cent to non-institutional investors.

The sponsor to the issue, Lokesh Builders, part of the GR Group, will subscribe to 15 per cent of the total post-issue unit capital of the InvIT in order to comply with the sponsor lock-in requirements, post which the issue size will be reduced.

Also Read
Irrigation backlog in Vidarbha
SRA to lenders, parties can submit proposals till February 1

Infrastructure Urban

13 Mar 2026

Implementation Status of Jal Jeevan Mission

Since August 2019 the Government has implemented Jal Jeevan Mission to provide assured potable water through household tap connections in rural India. At the start of the mission only 32.3 million (mn) rural households, representing 16.7 per cent, were reported to have tap water connections. States and union territories have reported that 125.8 mn additional rural households have since been provided with tap connections. As a result, of about 193.6 mn rural households roughly 158.2 mn, or 81.71 per cent, are reported to have tap water supply at home.\n\nThe State, district and village level st..

Jal Jeevan Mission Reaches Eighty One Per Cent Rural Coverage

The Government reported substantial progress under the Jal Jeevan Mission, launched in August 2019 to provide tap water to every rural household. At launch only 32.3 million (mn) rural households had tap connections and states and Union territories reported provision of 125.8 mn additional households by March 2026. Consequently, out of about 193.6 mn rural households around 158.2 mn, or 81.71 per cent, are reported to have tap water at home. The Finance Minister announced extension of the mission until 2028 in the 2025-26 budget speech. The Swachh Bharat Mission Grameen, launched in October 20..

Empowering Local Governance for Sustainable Rural Water Supply

The Ministry of Jal Shakti has aligned the Jal Jeevan Mission (JJM) with the 73rd Amendment to strengthen village level planning and community ownership of water supply. Gram Panchayats, village water and sanitation committees and Pani Samitis are to plan, implement, manage and maintain piped water systems, with gram sabha processes formalising handover and oversight. Implementation support agencies including non government organisations, community based organisations and self help groups have been empanelled to train local committees and promote women participation. Under JJM, the department ..