SEBI clears NHAI-sponsored Raajmarg Infra InvIT

New Delhi: The Securities and Exchange Board of India (SEBI) has granted approval to the National Highways Authority of India (NHAI)-sponsored Raajmarg Infra Investment Trust (RIIT) as an Infrastructure Investment Trust (InvIT), marking a key step in NHAI’s asset monetisation programme.

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According to NHAI, this public InvIT is aimed at unlocking the monetisation potential of national highway assets while offering a long-term investment avenue, with a focus on domestic and retail investors. The move is expected to broaden public participation in the development of India’s national highway infrastructure.

Commenting on the approval, NHAI Chairman Santosh Kumar Yadav said the clearance represents a milestone in expanding public participation in national highway infrastructure and advancing NHAI’s asset monetisation objectives. He added that the leadership team at RIIMPL is well placed to develop the InvIT as a credible long-term investment platform.

Earlier, NHAI had incorporated Raajmarg Infra Investment Managers Pvt. Ltd. (RIIMPL) as the investment manager for RIIT. RIIMPL has been set up as a joint venture with equity participation from several leading banks and financial institutions, including State Bank of India, Punjab National Bank, NaBFID, Axis Bank, HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank, Yes Bank and Bajaj Finserv Ventures Ltd. NHAI Member (Finance) N R V V M K Rajendra Kumar will serve as Managing Director and Chief Executive Officer of RIIMPL on an additional charge basis.

NHAI further said that RIIT is expected to support the development of a stronger national highway network by enabling wider domestic investor participation in infrastructure growth.

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