NHAI Receives SEBI’s In-Principle Approval for Registration of Raajmarg Infra Investment Trust as InvIT
Last month, NHAI incorporated Raajmarg Infra Investment Managers Pvt. Ltd. (RIIMPL) as the Investment Manager for RIIT
In a major boost to its asset monetization programme, the National Highways Authority of India (NHAI) has received in-principle approval from the Securities and Exchange Board of India (SEBI) for registering Raajmarg Infra Investment Trust (RIIT) as an Infrastructure Investment Trust (InvIT) under the SEBI (Infrastructure Investment Trusts) Regulations, 2014.
The approval marks a significant advancement in NHAI’s efforts to unlock the monetization potential of national highway assets while creating a high-quality, long-term investment avenue, particularly aimed at retail and domestic investors.
As part of the process toward securing final registration, RIIT must comply with SEBI’s stipulated requirements over the next six months, including the appointment of directors, submission of financial statements, and adherence to various regulatory norms.
Last month, NHAI incorporated Raajmarg Infra Investment Managers Pvt. Ltd. (RIIMPL) as the Investment Manager for RIIT.
The entity has been set up as a collaborative venture with equity contributions from major 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
- Yes Bank
NHAI’s monetization strategy has yielded strong results in recent years, with ₹48,995 crore raised through the Toll-Operate-Transfer (TOT) model, and ₹43,638 crore mobilized across four rounds of Private InvITs, attracting both domestic and global investors.
The launch of a Public InvIT fully aligned with SEBI regulations is expected to ensure greater transparency, robust investor protection, and best-in-class reporting and compliance standards. NHAI believes these measures will significantly increase public participation in building and maintaining world-class national highway infrastructure across the country.
