NHAI gets SEBI approval for its maiden InvIT

NHAI has received approval from the Securities and Exchange Board of India (SEBI) to launch its maiden InvIT to raise Rs 51 billion. NHAI plans to offer 19 projects worth Rs 350 billion under the InvIT model in the future. It aims to utilise the InvIT as a platform to monetise road assets over the next three to five years. NHAI is reportedly planning to delay the launch of the InvIT till traffic on the highways returns to pre-Covid levels. The authority had earlier planned to launch its InvIT by end-May or early June 2021, after receiving SEBI approval, but a drop in toll collection due to the second wave of Covid-19 and subsequent lockdowns across the country have caused NHAI to defer this decision.

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