NHAI Plans Major Fundraise for Infrastructure Trust

06 Feb 2025 CW Team

The National Highways Authority of India (NHAI) is negotiating to raise Rs 9,000 crore (approximately $1.03 billion) for its National Highways Infra Trust (NHIT), marking the largest fundraising round for the state-backed infrastructure trust to date. This move also positions NHIT for the biggest-ever capital raise by a roads-focused infrastructure investment trust (InvIT) in India.

The raised funds will primarily be allocated to acquiring a significant portfolio of road assets from NHAI, notably expanding the assets under NHIT management. The fourth round of acquisitions will involve the purchase of six highways spanning 500 km in states including Andhra Pradesh, Chhattisgarh, Uttar Pradesh, Rajasthan, Uttarakhand, and Gujarat.

Investors contributing to this fundraise are expected to include large institutional shareholders, such as Canada’s largest pension fund manager CPP Investments and Ontario Teachers' Pension Plan (OTPP), which together hold a 50 percent stake in NHIT. These investors, along with domestic institutional participants like insurance companies, mutual funds, and family offices, will provide a substantial portion of the funds.

NHAI holds a 15.48 percent stake in NHIT, while CPP Investments and OTPP each hold 25 percent. NHIT is aiming to complete the fundraising by March 31, 2025, after delays in 2024 due to geopolitical tensions and market instability.

The previous fundraise in March 2024 saw NHIT raise Rs 72.72 billion and acquire assets worth Rs 163 billion from NHAI. With a portfolio covering 1,525 km across nine states, NHIT’s assets have an enterprise valuation of Rs 290.41 billion.

In alignment with the National Monetisation Pipeline (NMP), which projects Rs 1.6 trillion in revenue from the road sector, NHAI and the Ministry of Road Transport and Highways had already generated Rs 535.41 billion by FY24 through toll-operate-transfer and InvIT mechanisms, contributing to the ongoing asset recycling initiative that began in 2018-19.

Infrastructure Transport

15 May 2026

MMRDA Removes 1.14 lakh m of Metro Barricades

In a bid to ease congestion and improve urban mobility during monsoon, MMRDA has undertaken one of the largest coordinated barricade removal and monsoon preparedness drives across its ongoing metro and infrastructure projects.With substantial progress achieved in viaduct and structural works across multiple metro corridors, barricades from completed stretches beneath metro viaducts are being systematically removed, restoring maximum possible road space before the monsoon. Wider carriageways across key arterial roads are expected to improve traffic flow, reduce congestion, support better rainwa..

Pune Division to Remove All Diamond Crossings by Year-End

The Pune railway division has announced plans to remove all 16 diamond crossings by the end of 2026 as part of a major yard remodelling project following the derailment of a Vande Bharat Express at Pune Junction on April 27. Railway authorities said the replacements aim to improve safety and streamline train operations across the busy station. The decision followed a Central Railway finding that the accident involved a non-standard diamond crossing and highlighted the need for replacement. Regular maintenance of existing crossings will continue until the replacement work is completed. Official..

Goa Declares 80 Million Square Metres No Development Zone

The Goa state government has declared 80 million square metres (mn) of land a no development zone, designating the area as protected from new construction. The notification reclassifies tracts across the state under a no development category for planning and regulatory purposes. The declaration signals a formal halt to new building permits within the defined zone. Authorities indicated that maps will be issued to show broad boundaries while detailed surveys will refine precise limits. The move transfers responsibility for enforcement to local planning authorities and relevant departments, whic..