NHAI Plans Infra Trust IPO in March

National Highways Authority of India to Launch Initial Public Offering

The National Highways Authority of India is preparing to launch an initial public offering of its infrastructure investment trust, with the potential to raise up to 57 billion rupees ($629 million), according to sources close to the matter.

Potential IPO Timeline

• The Raajmarg Infra Investment Trust has started meeting with prospective investors.
• The share sale is expected to begin in the first half of March.
• The IPO details, including size and timing, are subject to change.

Details of the IPO

Proceeds from the offering will be used to provide debt or equity funding to the project's special purpose vehicle.

IPO Allocation Details

• About 75% of the net issue will be allocated to institutional investors on a proportionate basis.
• The remaining 25% will be reserved for non-institutional investors.

India's Infrastructure Investment Trust Market

India has 29 registered infrastructure trusts, according to SEBI, with a few publicly listed, including:

• IRB InvIT Fund
• India Grid Trust
• Powergrid Infrastructure Investment Trust
• Indus Infra Trust
• Capital Infra Trust

Advisors for the Offering

The following firms are advising on the offering:

• SBI Capital Markets Ltd.
• Axisc Bank Ltd.
• ICICI Securities Ltd.
• Motilal Oswal Investment Advisors Ltd.

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