SEBI Clears NHAI’s Raajmarg InvIT To Boost Asset Monetisation
ROADS & HIGHWAYS

SEBI Clears NHAI’s Raajmarg InvIT To Boost Asset Monetisation

In a major boost to the National Highways Authority of India’s asset-monetisation strategy, the Securities and Exchange Board of India (SEBI) has granted in-principle approval for registering the Raajmarg Infra Investment Trust (RIIT) as an Infrastructure Investment Trust under the SEBI (Infrastructure Investment Trusts) Regulations, 2014. The proposed InvIT aims to unlock the monetisation potential of national highway assets while offering a high-quality, long-term investment vehicle, particularly for retail and domestic investors.

To obtain final registration, RIIT must fulfil specific conditions over the next six months, including appointing directors, submitting required financial statements and meeting all regulatory compliance obligations.

Last month, NHAI incorporated Raajmarg Infra Investment Managers Pvt Ltd (RIIMPL) as the Investment Manager for RIIT. RIIMPL has been created as a collaborative venture with equity participation from leading banks and financial institutions — including State Bank of India, Punjab National Bank, NaBFID, Axis Bank, Bajaj Finserv Ventures Ltd, HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank and Yes Bank.

NHAI has already achieved substantial success in monetising its assets. It has realised Rs 489.95 billion through the Toll-Operate-Transfer (TOT) model and raised approximately Rs 436.38 billion over four rounds of Private InvITs, drawing strong interest from both domestic and global investors.

Fully aligned with SEBI’s InvIT regulations, the Public InvIT structure ensures transparency, robust investor-protection mechanisms and high reporting and compliance standards. This framework is expected to significantly boost public participation in financing world-class national highway infrastructure across India.

In a major boost to the National Highways Authority of India’s asset-monetisation strategy, the Securities and Exchange Board of India (SEBI) has granted in-principle approval for registering the Raajmarg Infra Investment Trust (RIIT) as an Infrastructure Investment Trust under the SEBI (Infrastructure Investment Trusts) Regulations, 2014. The proposed InvIT aims to unlock the monetisation potential of national highway assets while offering a high-quality, long-term investment vehicle, particularly for retail and domestic investors. To obtain final registration, RIIT must fulfil specific conditions over the next six months, including appointing directors, submitting required financial statements and meeting all regulatory compliance obligations. Last month, NHAI incorporated Raajmarg Infra Investment Managers Pvt Ltd (RIIMPL) as the Investment Manager for RIIT. RIIMPL has been created as a collaborative venture with equity participation from leading banks and financial institutions — including State Bank of India, Punjab National Bank, NaBFID, Axis Bank, Bajaj Finserv Ventures Ltd, HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank and Yes Bank. NHAI has already achieved substantial success in monetising its assets. It has realised Rs 489.95 billion through the Toll-Operate-Transfer (TOT) model and raised approximately Rs 436.38 billion over four rounds of Private InvITs, drawing strong interest from both domestic and global investors. Fully aligned with SEBI’s InvIT regulations, the Public InvIT structure ensures transparency, robust investor-protection mechanisms and high reporting and compliance standards. This framework is expected to significantly boost public participation in financing world-class national highway infrastructure across India.

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