Public InvIT Boost: Raajmarg Infra's Grand Entry

The initial public offering of Raajmarg Infra Investment Trust, a state-backed entity, was 16% subscribed on its first bidding day. The IPO aims to monetize National Highway assets, offering a Rs 6,000 crore investment opportunity. It includes five toll roads under the NHAI’s Toll-Operate-Transfer model.

Raajmarg Infra Investment Trust, supported by the National Highways Authority of India, saw its initial public offering garner 16% subscriptions on the first day, Wednesday, marking a significant public investment milestone.

The IPO raised Rs 1,728 crore from prominent anchor investors such as LIC and ICICI Prudential Life Insurance, with its pricing set between Rs 99 and Rs 100 per unit. Scheduled to close on March 13, it is designed to promote public engagement in National Highway development projects.

This public InvIT initiative is intended to unlock National Highway asset monetization by proposing an initial portfolio of five toll roads based in Jharkhand, Andhra Pradesh, Tamil Nadu, and Karnataka as part of the acclaimed Golden Quadrilateral project.

(With inputs from agencies.)