New Delhi, March 2 The state-owned NHAI-sponsored Raajmarg Infra Investment Trust (RIIT) is preparing to launch its initial public offering (IPO) worth Rs 6,000 crore.
The InvIT's first public offering will open on March 11 and conclude on March 13, while bidding for anchor investors will take place on March 10, according to a public announcement on Monday.
This initiative marks an important step in broadening public participation in the National Highway infrastructure growth story.
The public InvIT aims to unlock the monetization potential of National Highway assets while creating a high-quality, long-term investment instrument primarily targeting retail and domestic investors.
According to the Red Herring Prospectus (RHP), the IPO issue size for Raajmarg Infra Investment Trust is up to Rs 6,000 crore. This is an increase from the Rs 5,700 crore initially planned when the draft papers were filed in January.
Earlier, NHAI had incorporated Raajmarg Infra Investment Managers Pvt. Ltd. (RIIMPL) as the investment manager for the Raajmarg Infra Investment Trust.
RIIMPL is 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, HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank, and Yes Bank.