Raajmarg Infra Investment Trust IPO Skyrockets with Record Subscription

The IPO of the state-owned Raajmarg Infra Investment Trust was oversubscribed 13.74 times on the final bidding day, attracting bids for over 2.93 billion units. With anchor investors like LIC and ICICI onboard, this initiative targets monetizing National Highway assets, offering retail and domestic investors a premium investment opportunity.

The National Highways Authority of India (NHAI)-sponsored Raajmarg Infra Investment Trust's Initial Public Offering (IPO) witnessed outstanding demand, being oversubscribed 13.74 times by the final bidding day on Friday.

NSE data revealed that the Rs 6,000-crore IPO garnered bids for an impressive 2,93,14,93,200 units compared to the allocated 21,33,33,150 units. This overwhelming interest was led by Qualified Institutional Buyers, whose subscription peaked at 19.14 times the offering, while Non-Institutional Investors marked a 7.26 times subscription.

Earlier in the week, Raajmarg raised Rs 1,728 crore from anchor investors, such as LIC and ICICI Prudential Life Insurance. With an IPO price set between Rs 99-100 per unit, the InvIT focuses on unlocking the monetisation of National Highway assets, appealing to both retail and domestic stakeholders. Featuring five toll roads across key Indian states, this initiative is positioned as a substantial milestone in infrastructure growth and investment.

(With inputs from agencies.)