Connecting India: NHIT's ₹18,380 Crore Boost to National Highways

National Highways Infra Trust (NHIT), an Infrastructure Investment Trust (InvIT) sponsored by the National Highways Authority of India (NHAI), has successfully completed its fourth fundraising round—the largest monetisation transaction in India’s road sector. This round's enterprise value stands at approximately Rs 18,380 crore, bringing NHIT’s total realised value across four rounds to over Rs 46,000 crore.

NHIT raised Rs 8,340 crore in unit capital from domestic and international investors and secured Rs 10,040 crore in debt from domestic lenders. The funds will be used to acquire key national highway stretches, including:

Andhra Pradesh: Anakapalle-Narsannapeta, Gundugolanu-Kovvuru, Chittoor-Mallavaram

Uttar Pradesh/Uttarakhand: Bareilly-Sitapur, Muzaffarnagar-Haridwar

Gujarat: Gandhidham-Mundra

Chhattisgarh: Raipur-Bilaspur

The total concession value of these highways is Rs 17,738 crore, including a Rs 97 crore premium.

Major investors included domestic pension and provident funds such as EPFO, L&T PF, and Rajasthan Rajya Vidyut Karamchari PF, along with insurance companies, banks, financial institutions, and mutual funds. Foreign investors, including the Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan Board, participated at their maximum limit.

News by Rahul Yelligetti.