Raajmarg Infra Investment Trust
Why in News?
RIIT is scheduled to be listed on the BSE and NSE today, March 24, 2026, with the ceremony attended by the Union Minister for Road Transport and Highways, Nitin Gadkari.
About
- Successful IPO: The trust recently concluded its ₹6,000 crore Initial Public Offering (IPO) in mid-March 2026, which was oversubscribed nearly 14 times.
- Anchor Investor Interest: Ahead of the public issue, the trust raised approximately ₹1,728 crore from 73 anchor investors, including major institutions like EPFO and SBI Life.
- Asset Acquisition: NHAI accepted an offer of ₹9,500 crore from RIIT for the concession of five highway assets spanning over 260 km.
Sponsor & Management
- Sponsor: Sponsored by the National Highways Authority of India (NHAI) under the Ministry of Road Transport and Highways.
- Investment Manager: Managed by Raajmarg Infra Investment Managers Private Limited (RIIMPL), a collaborative venture involving major banks like SBI, PNB, HDFC, and ICICI.
Asset Portfolio
- Consists of five operational toll road sections (approx. 260 km) across four states:
- Jharkhand: Gorhar–Barwa Adda section (NH 19).
- Andhra Pradesh: Chilakaluripet–Vijayawada section (NH 16).
- Tamil Nadu: Chennai Bypass (NH 32/48) and Chennai–Tada section (NH 16).
- Karnataka: Neelmangala–Tumkur section (NH 48).
Investment Structure
- Public Participation: Unlike previous private InvITs, this is a Public InvIT specifically targeting domestic retail investors.
- Returns: Aims to provide stable, long-term returns derived primarily from toll-based cash flows.
- Credit Rating: Received a AAA rating from CARE Ratings, reflecting high safety regarding timely servicing of financial obligations.
Future Outlook
- NHAI plans to transfer an additional 1,500 km of operational highways to RIIT over the next 3 to 5 years.
- Aligns with the National Monetisation Pipeline (NMP) objectives for capital recycling into new infrastructure projects.
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