NHAI’s InvIT advances third round of asset monetisation

The National Highways Infrastructure Trust (NHIT) has sanctioned the base price for acquiring five highway stretches from the NHAI. This price, determined by an independent valuer and presented in a sealed cover to NHAI, initiates the process for potential acquisition after book building and approval from NHIT’s unit holders.
The NHIT board authorised fundraising for this acquisition, intending to source 50 per cent equity from current unit holders and the rest through debt, attainable via term loans or bonds. In the previous round, NHIT raised Rs 15 billion through public issuance of non-convertible debentures.
Planning for a fourth round of asset monetisation by March 2024, NHAI’s InvIT has outlined six highway stretches, primarily in Karnataka, estimating around Rs 50 billion from the total 350 km of highways offered.