NHAI Finalises Record InvIT Monetisation Exceeding Rs 180 Billion
ROADS & HIGHWAYS

NHAI Finalises Record InvIT Monetisation Exceeding Rs 180 Billion

National Highways Infra Trust (NHIT), the Infrastructure Investment Trust (InvIT) set up by NHAI in 2020 to support the Government of India's monetisation programme has successfully concluded fourth round of fund-raising at an Enterprise Value of about Rs 183.80 billion, making it the largest monetisation transaction in the history of Indian roads sector. With completion of this round, the total realised value across the four rounds stands at over Rs 460 billion.

In this round, NHIT has successfully raised ~Rs 83.40 billion in unit capital from marquee domestic and international investors along with Rs 100.40 billion in debt from domestic lenders. These funds will be used for the acquisition of National Highway stretches viz. Anakapalle – Narsannapeta, Gundugolanu – Kovvuru & Chittoor – Mallavaram stretches in Andhra Pradesh, Bareilly – Sitapur & Muzaffarnagar – Haridwar stretches in UP/ Uttarakhand, Gandhidham – Mundra stretch in Gujarat and Raipur – Bilaspur stretch in Chhattisgarh, at a concession value of Rs 177.38 billion (including premium of Rs 970 million). The investors subscribed to the units through a book-building process at a cut-off price of Rs 133.50 per unit, reflecting a premium over the Dec 31, 2024 NAV of Rs.131.94 per unit.

The issue attracted strong demand from both existing and new investors. Several domestic pension/provident funds, viz., EPFO, L&T PF, Rajasthan Rajya Vidyut Karamchari PF, Indian Oil Corporation PF; insurance companies including Axis Max Life Insurance; banks/financial institutions including NaBFID, Axis Bank, IndusInd Bank; and mutual/ investment funds like Nippon India, Baroda BNP Paribas, Nuvama and White Oak Capital participated in the issue. In addition, NHIT’s existing foreign investors, Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan Board participated in the book building to their maximum limit.

A significant development in this round is subscription by the Employees’ Provident Fund Organisation (EPFO) of Rs 20.35 billion. This is the first ever investment by EPFO in an InvIT. Also, NHAI subscribed to its share of ~15 per cent of the units at the same price.

With completion of this round, NHIT will hold a diversified portfolio of 26 operating toll roads (41 toll plazas) with an aggregate length of 2,345 km spread across 12 states with concession periods ranging between 20 to 30 years.

News source: PIB

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

National Highways Infra Trust (NHIT), the Infrastructure Investment Trust (InvIT) set up by NHAI in 2020 to support the Government of India's monetisation programme has successfully concluded fourth round of fund-raising at an Enterprise Value of about Rs 183.80 billion, making it the largest monetisation transaction in the history of Indian roads sector. With completion of this round, the total realised value across the four rounds stands at over Rs 460 billion. In this round, NHIT has successfully raised ~Rs 83.40 billion in unit capital from marquee domestic and international investors along with Rs 100.40 billion in debt from domestic lenders. These funds will be used for the acquisition of National Highway stretches viz. Anakapalle – Narsannapeta, Gundugolanu – Kovvuru & Chittoor – Mallavaram stretches in Andhra Pradesh, Bareilly – Sitapur & Muzaffarnagar – Haridwar stretches in UP/ Uttarakhand, Gandhidham – Mundra stretch in Gujarat and Raipur – Bilaspur stretch in Chhattisgarh, at a concession value of Rs 177.38 billion (including premium of Rs 970 million). The investors subscribed to the units through a book-building process at a cut-off price of Rs 133.50 per unit, reflecting a premium over the Dec 31, 2024 NAV of Rs.131.94 per unit. The issue attracted strong demand from both existing and new investors. Several domestic pension/provident funds, viz., EPFO, L&T PF, Rajasthan Rajya Vidyut Karamchari PF, Indian Oil Corporation PF; insurance companies including Axis Max Life Insurance; banks/financial institutions including NaBFID, Axis Bank, IndusInd Bank; and mutual/ investment funds like Nippon India, Baroda BNP Paribas, Nuvama and White Oak Capital participated in the issue. In addition, NHIT’s existing foreign investors, Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan Board participated in the book building to their maximum limit. A significant development in this round is subscription by the Employees’ Provident Fund Organisation (EPFO) of Rs 20.35 billion. This is the first ever investment by EPFO in an InvIT. Also, NHAI subscribed to its share of ~15 per cent of the units at the same price. With completion of this round, NHIT will hold a diversified portfolio of 26 operating toll roads (41 toll plazas) with an aggregate length of 2,345 km spread across 12 states with concession periods ranging between 20 to 30 years. News source: PIB

Next Story
Real Estate

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

Next Story
Infrastructure Transport

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Next Story
Infrastructure Transport

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?