Raajmarg IPO: A New Avenue for Highway Investment

The state-owned Raajmarg Infra Investment Trust has set an IPO price between Rs 99 and Rs 100 per unit for its Rs 6,000-crore offering beginning March 11. The public offering aims to enhance public involvement in highway infrastructure, targeting retail and domestic investors while involving various banks as partners.

The state-owned Raajmarg Infra Investment Trust (RIIT), supported by NHAI, has announced a price band of Rs 99 to Rs 100 per unit for its forthcoming Rs 6,000-crore Initial Public Offering (IPO).

Opening on March 11 and concluding on March 13, the IPO signifies a major move towards broadening public engagement in the National Highway infrastructure sector. With a planned issue size increase from the initial Rs 5,700 crore, the public InvIT seeks to monetize highway assets efficiently.

RIIMPL, a collaborative effort with leading financial institutions such as State Bank of India, Punjab National Bank, and HDFC Bank, manages the trust. RIIT aims to debut on the stock market on March 24, with 75% of offerings earmarked for qualified institutional buyers.

(With inputs from agencies.)