New Delhi, March 5 The state-owned NHAI-sponsored Raajmarg Infra Investment Trust (RIIT) fixed a price band of ₹99 to ₹100 per unit for its upcoming ₹6,000-crore Initial Public Offering (IPO) on Thursday.
The InvIT's maiden 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.
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 Raajmarg Infra Investment Trust's IPO issue size aggregates up to ₹6,000 crore. This was an increase from the planned ₹5,700 crore when 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 Ltd., HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank, and Yes Bank.
The InvIT said that 75 per cent of the offer size is reserved for qualified institutional buyers, and the remaining 25 per cent for non-institutional investors.
Raajmarg Infra Investment Trust will make its stock market debut on March 24.
