Sebi's Green Light: Raajmarg Infra Trust Poised for Growth

Markets regulator Sebi granted in-principle approval for the registration of Raajmarg Infra Investment Trust as an Infrastructure Investment Trust. The trust must fulfill specific conditions over the next six months to secure final registration. It aims to monetise National Highway assets, targeting retail and domestic investors.

The Securities and Exchange Board of India (Sebi) has provided an in-principle nod for the registration of Raajmarg Infra Investment Trust (RIIT) as an Infrastructure Investment Trust (InvIT). The final approval is contingent on fulfilling specific conditions in the upcoming six months, according to an official statement released on Friday.

To achieve full registration, RIIT must meet a series of requirements, including the appointment of directors, submission of financial statements, and adherence to regulatory norms. These measures are pivotal for finalizing their approval status.

Designed to tap into the monetization of National Highway assets, the InvIT primarily targets retail and domestic investors. Launched under the Sebi Regulations of 2014, National Highways Authority of India (NHAI) has established Raajmarg Infra Investment Managers Pvt. Ltd. as the investment manager, backed by key financial institutions like State Bank of India and ICICI Bank.

(With inputs from agencies.)