The National Highways Authority of India (NHAI) has secured approval from the Securities and Exchange Board of India (SEBI) for its sponsored Raajmarg Infra Investment Trust (RIIT) to function as an Infrastructure Investment Trust (InvIT), giving a fresh push to the authority’s asset monetization programme.
The public InvIT has been designed to unlock value from operational national highway assets while offering a stable, long-term investment avenue, with a primary focus on retail and domestic investors. The move is aimed at expanding public participation in the development of India’s national highway infrastructure.
Earlier, NHAI had set up Raajmarg Infra Investment Managers Private Limited (RIIMPL) as the investment manager for RIIT. The company has been structured as a joint initiative with equity participation from several leading banks and financial institutions, including State Bank of India, Punjab National Bank, NaBFID, Axis Bank, Bajaj Finserv Ventures Limited, HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank and Yes Bank.
NRVVMK Rajendra Kumar, Member (Finance) of NHAI, will serve as the Managing Director and Chief Executive Officer (additional charge) of the investment manager company.
Welcoming SEBI’s approval, NHAI Chairman Santosh Kumar Yadav said the clearance marks an important milestone in widening public ownership of national highway assets. He noted that the leadership team at RIIMPL brings strong professional expertise and is well placed to take the initiative forward while creating sustainable long-term investment opportunities. He added that the approval aligns with NHAI’s broader asset monetization strategy and will further support the strengthening of the country’s national highway network.
With the launch of RIIT, NHAI expects deeper domestic investor participation and faster expansion of highway infrastructure, reinforcing the role of public investment in national development.
Also Read: SEBI grants in-principle approval to NHAI’s Raajmarg InvIT for asset monetisation
Also Read: NHAI Launches RIIMPL to Steer Public InvIT Initiative
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