As part of the government’s long-term intentions to monetise road assets, the National Highways Authority of India (NHAI) will launch its first Infrastructure Investment Trust (InvIT) on October 29. The InvIT seeks to raise Rs 5100 crore.
The offering will start on October 29 and finish on November 2, according to the offer documents filed with the NSE. The enterprise value of the road assets that will be brought under the InvIT is Rs8000 crore, with a debt of Rs2000 crore.
NHIT InvIT would own a total of 390 kilometres of toll roads across Rajasthan, Gujarat, Telengana, and Karnataka. In FY22, the assets are expected to generate Rs500 crore in income.
