NHAI-Backed Raajmarg InvIT To Launch Rs 60 Billion IPO

10 Mar 2026 CW Team

Through the InvIT, authorities intend to unlock economic value from operational national highway projects while creating a stable, income generating vehicle. The structure is designed for retail and domestic institutional investors seeking long term yield exposure to infrastructure assets. The red herring prospectus sets the issue size and other operational details to govern asset transfer and revenue sharing arrangements. The offering is expected to broaden the investor base for infrastructure finance.

The total issue size stands at up to Rs 60 billion, revised upwards from the earlier proposed Rs 57 billion at the draft stage in January, and this increase is presented as evidence of confidence in demand for infrastructure backed instruments. Market interest in long term yield assets has been cited as a driver for the larger sizing and for the timing of the issue. Anchor investor participation a day earlier is intended to provide early price discovery and allotment stability. The InvIT will hold a portfolio of operational highways and will focus on predictable toll and fee based cash flows.

The proposed offer is part of a broader asset monetisation strategy aimed at creating new revenue streams and improving utilisation of public infrastructure. By transferring operational assets into a yield oriented vehicle the authority expects to mobilise long term capital for infrastructure development. Retail participation in such offerings is encouraged to deepen domestic savings allocation into infrastructure and to diversify investor holdings. The transaction is positioned as a significant step in the recycling of highway assets towards renewed investment.

Raajmarg Infra Investment Trust (InvIT), sponsored by the National Highways Authority of India (NHAI), is set to enter the capital markets with an initial public offering of Rs 60 billion (Rs 60 bn). The maiden public issue will open for subscription on 11 March and close on 13 March, with anchor investors able to bid on 10 March. The InvIT route has been selected to widen public participation in highway asset ownership and investment. The launch marks a notable milestone in the government’s efforts to monetise national highway infrastructure. Through the InvIT, authorities intend to unlock economic value from operational national highway projects while creating a stable, income generating vehicle. The structure is designed for retail and domestic institutional investors seeking long term yield exposure to infrastructure assets. The red herring prospectus sets the issue size and other operational details to govern asset transfer and revenue sharing arrangements. The offering is expected to broaden the investor base for infrastructure finance. The total issue size stands at up to Rs 60 billion, revised upwards from the earlier proposed Rs 57 billion at the draft stage in January, and this increase is presented as evidence of confidence in demand for infrastructure backed instruments. Market interest in long term yield assets has been cited as a driver for the larger sizing and for the timing of the issue. Anchor investor participation a day earlier is intended to provide early price discovery and allotment stability. The InvIT will hold a portfolio of operational highways and will focus on predictable toll and fee based cash flows. The proposed offer is part of a broader asset monetisation strategy aimed at creating new revenue streams and improving utilisation of public infrastructure. By transferring operational assets into a yield oriented vehicle the authority expects to mobilise long term capital for infrastructure development. Retail participation in such offerings is encouraged to deepen domestic savings allocation into infrastructure and to diversify investor holdings. The transaction is positioned as a significant step in the recycling of highway assets towards renewed investment.

Products

20 Apr 2026

OrnaMatte Brings Premium Matte Finishes to Modern Interiors

Action TESA has introduced OrnaMatte, a curated range of 38 matte finishes designed for contemporary interior surfaces. The new offering combines premium aesthetics with practical performance, reflecting the growing demand for surface solutions that balance design appeal with durability. The company said matte finishes continue to gain popularity for their understated, elegant look across modern interiors. OrnaMatte features anti-fingerprint properties, a velvety satin feel, near-zero gloss and 3H scratch resistance, making it suitable for long-term use in residential and commercial spaces. ..

Real Estate

20 Apr 2026

Vestian reports 36% drop in construction activity in Q1

Vestian reported a 36 per cent quarter-on-quarter decline in new office completions to 9.7 million sq ft in Q1 2026, marking the lowest level in the past four quarters amid the West Asia crisis.The slowdown was led by cities such as Bengaluru, Hyderabad and Mumbai, where developers adopted a cautious approach. Hyderabad saw the steepest drop, with completions falling 95 per cent to 0.3 million sq ft from 6.0 million sq ft in the previous quarter.Despite constrained supply, office absorption rose 20 per cent year-on-year to 21.53 million sq ft, driven by sustained demand from global capability ..

Real Estate

20 Apr 2026

fäm Properties reports 95% sales in Dubai 2026 supply

Data from DXBinteract shows that 41,015 of 43,217 units due this year have already been sold. Across the 2026–2029 pipeline, 71.45 per cent of 426,182 units have been committed, indicating sustained absorption levels.The analysis highlights strong demand across leading developers, with several reporting near or full sell-outs. Emaar and Meraas have sold over 99 per cent of their 2026 inventory, while Dubai Holding and Meydan projects are fully sold.Commenting on the trend, Firas Al Msaddi, CEO, fam Properties, said, “Dubai continues to demonstrate a level of forward demand that is structur..