NHIT plans Rs 90 bn fundraising through debt and equity

31 Oct 2023 CW Team

The National Highways Infra Trust (NHIT), sponsored by the National Highways Authority of India, plans to raise up to Rs 90 billion post-Diwali through a mix of debt and equity in its third round of fundraising. The funds will be generated by monetising six 250 km highway stretches in phases, targeting both domestic and global investors. A proposed non-convertible debentures (NCD) issue, similar to last year's Rs 15 billion, will be offered to retail investors with assured returns of around 8%. NHIT also plans another fundraising round in March, aiming to raise Rs 50-60 billion in the fourth phase of asset monetisation for six highway stretches spanning 635km.

The InvIT will not include retail investors in the equity issue during the third round but might consider it later when road projects mature, providing steady revenue streams. NHIT aims to maintain a low debt component, possibly through bank loans and NCD sales. NHAI launched its InvIT in 2021, acquiring toll road assets and raising significant funds. NHAI plans to monetise a list of 46 projects span over 2,612km in the fiscal year 2024, aiming to generate up to Rs 450 billion through various funding models, including InvITs and toll-operate-transfer mechanisms. Roads are a vital component of the national monetisation pipeline, contributing significantly to the government's overall target of Rs 6 trillion in asset monetisation by 2024-25.

Infrastructure Transport

15 Sep 2025

Cabinet Approves Key Highway and Rail Projects in Bihar Region

The Union Cabinet on Wednesday approved the four-laning of the 84.2-km Mokama-Munger section of the Buxar-Bhagalpur high-speed corridor, a key industrial region in poll-bound Bihar. The Cabinet also sanctioned the doubling of the 177-km Bhagalpur-Dumka-Rampurhat railway line, which passes through Bihar, Jharkhand, and West Bengal, at a cost of Rs 31.7 billion.The Rs 44.5 billion highway project will be constructed under the hybrid annuity model, a variant of public-private partnership. The Mokama-Munger stretch was the only remaining two-lane section of the 363-km Buxar-Bhagalpur corridor. Fou..

NGT Issues Notice on Bengaluru Twin Tunnel Project

The National Green Tribunal (NGT) on Wednesday issued notices in response to a petition filed by Bengaluru Praja Vedike and others, challenging the Bengaluru twin tunnel road project. Petitioners claim the project was “hastily announced” and bypassed mandatory environmental impact assessment procedures.Notices have been served to the Karnataka Government, Greater Bengaluru Authority, State Environment Impact Assessment Authority (SEIAA), Bengaluru Smart Infrastructure Ltd (B-SMILE), the Union Ministry of Environment, Forest and Climate Change, and project consultants.The 16.74-km twin-tube..

India’s Residential Sales to Dip Slightly in FY26

Residential sales in India’s seven major cities are projected to decline by up to 3 per cent year-on-year in FY26 to 620–640 million square feet (msf), amid a moderation in sales velocity, according to ratings agency Icra.In FY25, sales stood at 643 msf, down 8 per cent YoY, following a sharp contraction in new launches and moderated demand in the affordable and mid-income segments. This slowdown came after the sector posted a robust compound annual growth rate of 26 per cent in area sales between FY22 and FY24.Icra noted: “Having seen a strong upcycle, the sector entered an equilibrium ..