NHAI initiates process to set up RIIT

The National Highways Authority of India (NHAI) is in the process of setting up Raajmarg Infra Investment Trust (RIIT) as the authority’s public infrastructure investment trust (InvIT). This public InvIT will be NHAI’s second InvIT, aimed at realising monetisation potential while diversifying the investor base. NHAI has incorporated Raamarg Infra Investment Managers Private Limited (RIIMPL) as the investment manager of the proposed InvIT. The InvIT will see equity participation from State Bank of India (SBI), Punjab National Bank (PNB), National Bank for Financing Infrastructure and Development, Axis Bank, Bajaj Finserv Ventures, HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank, and Yes Bank. The government plans to house around 1,500 km of roads under the InvIT over the next 3–5 years.