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Central Government/Public Sector | Multi State - Tajikistan | PID: 202648
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National Highways Infra Trust (NHIT), the infrastructure Investment Trust by the National Highways Authority of India (NHAI), has successfully concluded fund-raising through ’InvIT Round-3’ for national highway stretches of aggregate length of 889 km.With over Rs 16,000 crore raised as the highest ever concession value, this is the largest monetisation by NHAI. The letter of acceptance (LOA) was issued last month in February 2024.In the third round, NHIT has raised unit capital of round Rs 7,272 crore from marquee domestic and international investors and debt of around Rs. 9,000 crore from Indian lenders, to fund the acquisition of the stretches, at a base concession fee of around Rs 15,625 crore, and additional concessional fees of Rs.75 crore.The units witnessed strong demand from both existing and new investors, including foreign pension funds viz. Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan Board, domestic pension/provident funds, insurance companies including Tata AIG, SBI Life, mutual funds, banks and few others.With completion of the third round of monetization the total realised value of all three rounds of InvIT stands at Rs 26,125 crore and holds a diversified portfolio of fifteen operating toll roads with an aggregate length of about 1,525 km spread across the 9states of Assam, Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Telangana, Uttar Pradesh and West Bengal, with concession periods ranging between 20 to 30 years.National Highways Infra Trust (NHIT), the Infrastructure Investment Trust sponsored by National Highways Authority of India (NHAI), was set up in 2021 to support the national monetization pipeline.
| Updated on: 20 - Mar - 2024
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