Archive · 5 Dec 2025
SEBI Approves NHAI's Raajmarg InvIT for Public Investment
The Securities and Exchange Board of India (SEBI) has given its approval for the National Highways Authority of India (NHAI) to create a new investment trust called Raajmarg Infra Investment Trust (RIIT).
This trust will allow people to invest in highways, similar to how they invest in mutual funds.
The money from this trust will be used to build new roads.
NHAI has already raised a lot of money by selling some of its existing highways.
With this new trust, more people, including regular investors, can now invest in highways and earn money from the tolls collected.
This is a big step towards getting more people involved in building and financing India's roads.
SEBI has given in-principle approval for NHAI's Raajmarg Infra Investment Trust (RIIT) as a Public Infrastructure Investment Trust.
RIIT will allow individuals and institutions to invest in highway projects, similar to mutual funds, with returns linked to toll revenues.
NHAI has set up Raajmarg Infra Investment Managers Pvt. Ltd. (RIIMPL) to manage the InvIT, with equity participation from major banks and financial institutions.
NHAI aims to raise funds for new highway development through asset monetisation, having already raised significant amounts through previous models.
The InvIT will help NHAI unlock the value of completed highways and generate funds for new projects without additional debt, offering investors steady long-term returns.
- Who
- National Highways Authority of India (NHAI) and SEBI
- What
- Approval of Raajmarg Infra Investment Trust (RIIT) for public investment in highways
- When
- Approval received, final approval expected in the next six months
- Where
- India
- Why
- To expand asset monetisation and tap into a wider pool of investors
- Approval Body
- SEBI
- InvIT Name
- Raajmarg Infra Investment Trust (RIIT)
- Investment Manager
- Raajmarg Infra Investment Managers Pvt. Ltd. (RIIMPL)
- Key Investors
- SBI, PNB, NaBFID, HDFC Bank, ICICI Bank, Axis Bank, Bajaj Finserv Ventures, IDBI Bank, IndusInd Bank, Yes Bank
- Monetisation Goal
- Raise funds for new highway development
- Previous Monetisation
- 48,995 crore through Toll Operate Transfer model and 43,638 crore through private InvITs
- Next Steps
- Appoint directors, submit financial statements, meet SEBI compliance
- Timeframe for Final Approval
- Next six months