NHAI Receives SEBI Approval For Raajmarg Infra Investment Trust As Public InvIT
The initiative marks an important step in broadening public participation in the National Highway infrastructure growth story, it added.
State-owned NHAI-sponsored Raajmarg Infra Investment Trust (RIIT) has received approval from the Securities and Exchange Board of India (SEBI) as an Infrastructure Investment Trust (InvIT), an official statement said on Wednesday.
The statement said the Public InvIT aims to unlock the monetisation potential of the National Highway assets while creating a high-quality, long-term investment instrument primarily targeting retail and domestic investors.
The initiative marks an important step in broadening public participation in the National Highway infrastructure growth story, it added.
Earlier, NHAI had incorporated Raajmarg Infra Investment Managers Pvt Ltd (RIIMPL) as the Investment Manager for the Raajmarg Infra Investment Trust (RIIT).
RIIMPL has been established as 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.
NRVVMK Rajendra Kumar, Member (Finance), NHAI, will be the Managing Director and CEO (Additional Charge) of the investment manager company.
The statement said RIIT will deepen public participation and play a pivotal role in accelerating the development of a robust National Highway network across the country by enabling domestic retail investors to participate in national infrastructure development.
