Highway funding push: NHAI gets Sebi nod for Raajmarg Infra InvIT; retail investors set to tap highway monetisation

The National Highways Authority of India (NHAI) has received regulatory approval from the Securities and Exchange Board of India (Sebi) to register Raajmarg Infra Investment Trust (RIIT) as a Public Infrastructure Investment Trust (InvIT), paving the way for wider public participation in national highway assets. In a statement issued on Wednesday, NHAI said the Public InvIT is designed to unlock the monetisation potential of operational national highway projects while offering a long-term investment avenue, primarily targeted at retail and domestic investors. The move is seen as a key step in expanding public involvement in India’s highway infrastructure growth, while also helping NHAI recycle capital for future road development. As part of the structure, NHAI has earlier incorporated Raajmarg Infra Investment Managers Pvt Ltd (RIIMPL) to act as the investment manager for the trust. RIIMPL has been set up as a joint venture with equity participation from a consortium of 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. NRVVMK Rajendra Kumar, Member (Finance) at NHAI, will serve as Managing Director and Chief Executive Officer (additional charge) of the investment manager company, according to the statement. NHAI said the Raajmarg Infra InvIT will deepen domestic investor participation and play a pivotal role in supporting the expansion of a robust national highway network, while allowing retail investors to directly participate in India’s infrastructure development story.