New Delhi: State-owned, NHAI-sponsored Raajmarg Infra Investment Trust (RIIT) has received approval from the Securities and Exchange Board of India (SEBI) to operate as an Infrastructure Investment Trust (InvIT).
The Public InvIT is aimed at unlocking the monetisation potential of National Highway assets while offering a long-term investment avenue, primarily for retail and domestic investors.
The move is expected to expand public participation in India’s highway infrastructure growth and support sustainable financing for road development projects.
As part of the initiative, the National Highways Authority of India (NHAI) had earlier incorporated Raajmarg Infra Investment Managers Pvt Ltd (RIIMPL) as the investment manager for RIIT.
RIIMPL has been set up as a joint venture with equity participation from major banks and financial institutions, including State Bank of India, Punjab National Bank, NaBFID, Axis Bank, HDFC Bank, ICICI Bank and others.
NRVVMK Rajendra Kumar, Member (Finance), NHAI, will serve as Managing Director and CEO (Additional Charge) of the investment manager company.
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