NHAI’s Raajmarg InvIT Gets SEBI Approval, Boosting Highway Monetisation

Prior to SEBI’s approval, NHAI established Raajmarg Infra Investment Managers Pvt. Ltd. (RIIMPL) as the Investment Manager for RIIT.

In a major boost to its asset monetization programme, the National Highways Authority of India (NHAI) has received approval from the Securities and Exchange Board of India (SEBI) for the Raajmarg Infra Investment Trust (RIIT) to operate as an Infrastructure Investment Trust (InvIT).

The newly approved Public InvIT marks a significant step toward unlocking the monetization potential of National Highway assets while offering a high-quality, long-term investment platform aimed at domestic and retail investors. The initiative is expected to broaden public participation in India’s rapidly expanding National Highway development programme.

RIIT: A Collaborative Venture for Infrastructure Growth

Prior to SEBI’s approval, NHAI established Raajmarg Infra Investment Managers Pvt. Ltd. (RIIMPL) as the Investment Manager for RIIT. RIIMPL is a collaborative entity formed with equity participation from leading Indian banks and financial institutions, including:

• State Bank of India

• Punjab National Bank

• NaBFID

• Axis Bank

• Bajaj Finserv Ventures Ltd.

• HDFC Bank

• ICICI Bank

• IDBI Bank

• IndusInd Bank

• Yes Bank

Shri N.R.V.V.M.K. Rajendra Kumar, Member (Finance) of NHAI, will serve as the Managing Director and CEO (Additional Charge) of RIIMPL.

A Major Push for Public Participation

Welcoming SEBI’s approval, NHAI Chairman Shri Santosh Kumar Yadav said the RIIT milestone would significantly expand public participation in India’s highway infrastructure development. He highlighted that RIIMPL’s leadership team consists of highly experienced professionals positioned to deliver long-term value for investors.

He added that the Public InvIT aligns with NHAI's asset monetization objectives and will help further strengthen the country’s National Highway network by attracting broader investment participation.

Driving India’s Infrastructure Future

RIIT is expected to play a pivotal role in accelerating the development of a world-class highway network by enabling domestic retail investors to directly contribute to national infrastructure creation. The InvIT structure will offer investors stable returns backed by operational highway assets, supporting both economic growth and financial inclusion.

The approval marks another milestone in India’s efforts to diversify infrastructure funding sources, enhance investor confidence, and create transparent, regulated avenues for long-term investment.