NHAI-Backed Raajmarg Infra InvIT IPO Fully Subscribed on Day 2
The initial public offering (IPO) of Raajmarg Infra Investment Trust (InvIT), sponsored by the state-owned !National Highways Authority of India ( !NHAI ), achieved full subscription on the second day of bidding on Thursday.
The ₹6,000-crore IPO received bids for 22,30,37,100 units against the 21,33,33,150 units on offer, registering a subscription of 1.05 times, according to data from the National Stock Exchange (NSE). This marked a significant pickup in investor interest compared to the first day, when the issue was subscribed around 16%.
Raajmarg Infra InvIT, the first public InvIT backed by NHAI, aims to monetize operational national highway assets and provide investors with stable, long-term returns from toll revenues. The trust owns a portfolio of five operational toll road stretches totaling approximately 260 km across states including Tamil Nadu, Andhra Pradesh, Jharkhand, and Karnataka. Key projects include the Chennai Bypass, Chennai-Tada, Chilakaluripet-Vijayawada, Gorhar-Barwa Adda, and Neelmangla-Tumkur highways.
!National Highways Infra Trust