The National Highways Authority of India (NHAI) has identified nine road stretches comprising more than 550 km for monetisation under the Infrastructure Investment Trust (InvIT) route during 2025-26. These road assets are located in Maharashtra, Odisha, Andhra Pradesh, and West Bengal and will be monetised by the National Highways Infrastructure Trust (NHIT) under the fifth round of monetisation.
The fifth round of InvIT monetisation has been kept smaller than what was accomplished during 2024-25. Additionally, the process has started early in 2025-26 to allow for another round of monetisation using the same route.
The government has announced plans to phase out the toll-operate-transfer (ToT) model and increase its reliance on InvIT. With this, NHAI is yet to decide the concessionaires of two highway bundles for which it received bids last year. Moreover, the bids are currently open for two more ToT bundles.
After paying Rs 177.38 billion up front, the NHIT acquired 821 km of highways from NHAI in 2024-2025. The next phase of monetisation through InvIT is expected to generate Rs 125 billion. Moreover, in addition to NHIT, a public InvIT is being proposed. Retail investors will have the opportunity to purchase units of equity in the public InvIT.