Securities and Exchange Board of India (Sebi) grants in-principle approval to NHAI’s Raajmarg Infra Investment Trust (RIIT) for InvIT registration.

Key facts

• Sebi has granted in-principle approval to register 'Raajmarg Infra Investment Trust' (RIIT) as an Infrastructure Investment Trust (InvIT).
• RIIT must meet specific conditions over the next six months including appointment of directors, submission of requisite financial statements, and compliance with other regulatory requirements.
• NHAI incorporated Raajmarg Infra Investment Managers Pvt. Ltd. (RIIMPL) last month as the investment manager for RIIT.
• RIIMPL is a collaborative venture with equity participation from State Bank of India, Punjab National Bank, NaBFID, Axis Bank, Bajaj Finserv Ventures Ltd., HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank, and Yes Bank.
• The InvIT aims to unlock monetisation potential of National Highway assets and create a long-term investment instrument targeting retail and domestic investors.