NHAI-backed Raajmarg Infra InvIT lists on BSE -Governance Now

NHAI-backed Raajmarg Infra InvIT lists on BSE

Public InvIT advances highway monetisation, opens infrastructure investment to retail participants

Geetanjali Minhas | March 24, 2026 | Mumbai

#Infrastructure #BSE #NHAI #Nitin Gadkari

The maiden public issue of NHAI-sponsored Raajmarg Infra Investment Trust (RIIT) listed on the Bombay Stock Exchange (BSE) Tuesday in the presence of union minister for road transport and highways Nitin Gadkari. The listing marks a key step in the Government of India’s asset monetisation strategy.

Under the national monetisation pipeline (NMP-1), the Ministry of Road Transport and Highways (MoRTH) and the National Highways Authority of India (NHAI) have monetised assets worth approximately Rs 1.5 lakh crore through instruments such as toll-operate-transfer (ToT), privately placed InvITs, and securitisation emerging as the top-performing ministry under the programme. To sustain this momentum under NMP-2, NHAI established the public Infrastructure Investment Trust Raajmarg Infra Investment Trust (RIIT).

Launched under the regulatory framework of the Securities and Exchange Board of India (SEBI), RIIT is designed to broaden investor participation in India’s highway sector.

Speaking at the event, Gadkari said the InvIT would enable citizens to directly participate in infrastructure development, advancing the vision of turning road users into road owners. He noted strong investor interest, with the issue oversubscribed nearly 14 times, and outlined plans to monetise 1,500 km of highways over the next three years via the InvIT route.

RIIT is sponsored by NHAI and managed by Raajmarg Investment Managers Private Limited (RIIMPL), a public-private partnership involving NHAI, NaBFID, and leading financial institutions, ensuring professional governance and financial discipline.

The trust has secured five operational highway assets across Jharkhand, Tamil Nadu, Andhra Pradesh, and Karnataka, with a total concession value of around Rs 9,500 crore. The acquisition is funded through a mix of equity (Rs 6,000 crore) and debt.

Strategic investors including EPFO and SBI Life Insurance subscribed about Rs 1,260 crore, while anchor investors committed approximately Rs 1,728 crore. The remaining Rs 2,100 crore public issue saw strong demand, underscoring confidence in India’s infrastructure growth story.

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