NHIT to raise Rs 45 bn debt for 2 new road projects
ROADS & HIGHWAYS

NHIT to raise Rs 45 bn debt for 2 new road projects

The National Highways Infra Trust (NHIT) announced its intention to procure an additional debt amounting to Rs 45 billion. This funding aims to facilitate the acquisition of two additional operational road projects from its parent organisation, the National Highways Authority of India (NHAI).

It was indicated that the conclusion of the acquisition of road assets is scheduled for the fourth quarter, ending on March 31 (Q4FY24). NHIT, functioning as an infrastructure investment trust (InvIT), proposed to extend its portfolio by acquiring a total of seven operational road projects from NHAI, a step up from the initial plan of five, as part of its third round of asset acquisition.

To finance these acquisitions, NHIT proposed a long-term debt of Rs 90 billion, previously estimated at Rs 45 billion. Additionally, it planned to generate equity by issuing units of an infrastructure investment trust (InvIT).

India Ratings awarded AAA ratings for rupee term loans, citing the optimal combination of operational assets with long-term revenue visibility, minimal operational risks, and support from a robust and experienced parent organisation.

The projected enterprise value of the seven assets is anticipated to be approximately Rs 160 billion, pending the valuation report, compared to the earlier estimated Rs 90 billion for five assets.

As of now, the InvIT, operating through its wholly-owned subsidiary, National Highways Infra Projects (NHIPPL), oversees eight road assets with a combined length of 2,544 lane km.

The National Highways Infra Trust (NHIT) announced its intention to procure an additional debt amounting to Rs 45 billion. This funding aims to facilitate the acquisition of two additional operational road projects from its parent organisation, the National Highways Authority of India (NHAI). It was indicated that the conclusion of the acquisition of road assets is scheduled for the fourth quarter, ending on March 31 (Q4FY24). NHIT, functioning as an infrastructure investment trust (InvIT), proposed to extend its portfolio by acquiring a total of seven operational road projects from NHAI, a step up from the initial plan of five, as part of its third round of asset acquisition. To finance these acquisitions, NHIT proposed a long-term debt of Rs 90 billion, previously estimated at Rs 45 billion. Additionally, it planned to generate equity by issuing units of an infrastructure investment trust (InvIT). India Ratings awarded AAA ratings for rupee term loans, citing the optimal combination of operational assets with long-term revenue visibility, minimal operational risks, and support from a robust and experienced parent organisation. The projected enterprise value of the seven assets is anticipated to be approximately Rs 160 billion, pending the valuation report, compared to the earlier estimated Rs 90 billion for five assets. As of now, the InvIT, operating through its wholly-owned subsidiary, National Highways Infra Projects (NHIPPL), oversees eight road assets with a combined length of 2,544 lane km.

Next Story
Infrastructure Energy

Invenia Wins Rs 3.6 Billion Contract for PowerGrid Data Centre

Invenia-STL Networks Limited, a leading digital infrastructure and IT services company, announced it has secured a major contract worth over Rs 3.6 billion from PowerGrid Teleservices Limited (PowerTel), a wholly owned subsidiary of the Power Grid Corporation of India Limited (PGCIL), the nation’s largest electric power transmission utility.Under the agreement, Invenia will design, build, commission and maintain the complete IT and cloud infrastructure for a greenfield Tier III data centre at PowerGrid’s Manesar facility. In addition, Invenia will establish a Disaster Recovery Data Centre ..

Next Story
Infrastructure Energy

Vikram Solar Secures 200 MW Order to Expand India’s Solar Capacity

Vikram Solar, one of India’s leading solar PV module manufacturers, has announced a major order of 200 MW high-efficiency solar modules from AB Energia, a specialist in end-to-end EPC solutions for commercial and industrial (C&I) solar projects. The modules, rated at 590 Wp and above, will be deployed across Maharashtra, Madhya Pradesh and Gujarat — three solar-progressive states accelerating their adoption of clean energy.Under this order, Vikram Solar will supply its advanced M10R N-Type TOPCon modules, designed for superior performance, reliability and higher energy yield. Deliverie..

Next Story
Real Estate

Shriram Properties Backs Neerathon 2025 to Promote Water Conservation

Shriram Properties Limited (SPL), one of India’s leading residential developers in the mid-market and mid-premium segments, reaffirmed its commitment to sustainability and community welfare by supporting IPA Neerathon 2025 in Chennai as the Title Sponsor. The event, which attracted thousands of participants across 10K, 5K and 3K categories at Island Grounds, was more than a race — it was a movement for water conservation and environmental stewardship.For SPL, this partnership aligns with its long-standing efforts to support initiatives beyond real estate, promoting sustainable communities ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?