#RaajmargInvIT #NHAI #SEBI #AssetMonetization #InfraFinancing #RetailInvestment #PublicInvIT #IndianHighways #InfrastructureInvestment #AtmanirbharBharat
New Delhi: — In a major boost to India’s asset monetization program and financial inclusion, the National Highways Authority of India (NHAI) has received in-principle approval from the Securities and Exchange Board of India (SEBI) for the registration of the ‘Raajmarg Infra Investment Trust’ (RIIT) as a Public Infrastructure Investment Trust (InvIT). This landmark move is set to democratize investment in the country’s high-growth national highway network.
The core objective of RIIT is to create a high-quality, long-term investment instrument that specifically targets retail and domestic investors, allowing the general public to directly participate in the nation’s infrastructure development and earn stable returns backed by toll revenues.
Road to Final Registration
The in-principle approval is a pivotal milestone, but RIIT must now fulfil specific regulatory requirements set by SEBI over the next six months to secure final registration. These conditions include:
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Appointment of Directors: Establishing the governing body.
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Financial Statements: Submission of all requisite financial documents.
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Regulatory Compliance: Adherence to all other stipulations under the SEBI (InvITs) Regulations, 2014.
Institutional Backing and Robust Structure
To manage the InvIT, NHAI last month incorporated Raajmarg Infra Investment Managers Pvt. Ltd. (RIIMPL). This management company showcases strong institutional backing, established as a collaborative venture with equity participation from India’s leading financial entities, including:
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State Bank of India (SBI)
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Punjab National Bank (PNB)
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NaBFID (National Bank for Financing Infrastructure and Development)
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Axis Bank
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HDFC Bank
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ICICI Bank
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IDBI Bank
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IndusInd Bank
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Yes Bank
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Bajaj Finserv Ventures Ltd.
This collaborative structure ensures professional management and strong governance, vital for attracting investor confidence.
Monumental Monetization Track Record
NHAI’s shift to a Public InvIT is built on a strong foundation of prior successful asset monetization. The authority has already generated significant capital through two key models:
| Monetization Model | Funds Raised (Approx.) |
| Toll-Operate-Transfer (TOT) Model | ₹48,995 crore |
| Private InvITs (Four Rounds) | ₹43,638 crore |
| Total Raised | ₹92,633 crore |
The transition from a Private to a Public InvIT is expected to further accelerate this momentum by tapping into the broader capital market and household savings. The framework, fully aligned with SEBI’s robust regulations, promises transparency, strong investor protection mechanisms, and best-in-class compliance standards. This financial innovation is set to significantly enhance public participation in building world-class National Highway infrastructure across the country.
#RaajmargInvIT #NHAI #SEBI #AssetMonetization #InfraFinancing #RetailInvestment #PublicInvIT #IndianHighways #InfrastructureInvestment #AtmanirbharBharat
