Major Stake Acquisition in National Highways Infra Trust by SBI Life and Vidyaniti LLP
SBI Life Insurance and Vidyaniti LLP acquired a 4.25% stake in National Highways Infra Trust for Rs 1,100 crore. This acquisition came through an open market transaction, with NHAI divesting 8.24 crore units. The deal aligns with the government's National Monetisation Pipeline strategy.
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- India
SBI Life Insurance and Vidyaniti LLP have collectively acquired a significant 4.25% stake in the National Highways Infra Trust (NHIT) through an open market transaction valued at Rs 1,100 crore. This acquisition involved the purchase of 8.24 crore units, facilitated through the National Stock Exchange.
According to data from the block deal, SBI Life Insurance acquired approximately 3.74 crore units, translating to a 1.93% holding in NHIT, while Vidyaniti LLP secured over 4.49 crore units, representing a 2.3% stake. The average price per unit was Rs 133.57.
This transaction is a part of the National Highways Authority of India's strategy under the National Monetisation Pipeline, aiming to optimize value from government assets. Previously, in March, SBI Mutual Fund had divested a 4.7% stake in NHIT for Rs 815 crore.
(With inputs from agencies.)
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