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NHAI completes largest monetisation of over Rs16,000 cr through InvIT
The Business Guardian
|March 21, 2024
National Highways Infra Trust (NHIT) has successfully concluded fundraising for national highway stretches of aggregate length of 889 kilometers.
The NHIT is the infrastructure investment trust (InvIT) by the National Highways Authority of India (NHAI) and serves like a mutual fund, which enables direct investment of money from individual and institutional investors in infrastructure projects to earn a portion of the income as return. The largest ever by NHAI monetisation of over Rs 16,000 crore has been caried out through Round 3 ’InvIT and is one of the largest transactions in the history of Indian road sector.
The Letter of Acceptance (LOA) to raise the highest ever concession value through 'InvIT Round-3' was issued last month in February 2024. Since November 2021, NHIT has cumulatively raised around Rs.12,000 crore through first two rounds of monetisation for acquisition of eight operating road assets with an aggregate length of 636 km from NHAI.
This story is from the March 21, 2024 edition of The Business Guardian.
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