EPFO joins new NHAI InvIT as strategic investor

The Employee Provident Fund Organisation (EPFO) will join the public InvIT promoted by NHAI as a strategic investor, committing funds to acquire 16.6 per cent of the total units on offer in the maiden public issue of the Raajmarg Infra Investment Trust (RIIT). Of the total Rs 60 billion that RIIT aims to raise via a public offer, the EPFO has committed Rs 10 billion. This would enable it to acquire more units or equity than NHAI. As a sponsor, NHAI has committed to acquiring 15 per cent of units. Another strategic investor for RIIT is SBI Life Insurance Company Limited, which will acquire 4.3 per cent of the units by investing Rs 2.6 billion.