NHAI Receives SEBI Approval for Raajmarg Infra Investment Trust (RIIT) as a Public InvIT

**Executive Summary** The National Highways Authority of India (NHAI) has received approval from the Securities and Exchange Board of India (SEBI) for its Raajmarg Infra Investment Trust (RIIT) to operate as a Public Infrastructure Investment Trust (InvIT). This initiative aims to unlock the monetization potential of National Highway assets by attracting retail and domestic investors. The date of the report is December 24, 2023. **Key Points / Main Content** * **RIIT Approval and Purpose:** * NHAI's RIIT has been approved by SEBI as a Public InvIT. * The aim is to monetize National Highway assets. * It targets retail and domestic investors to broaden public participation. * The RIIT will deepen public participation and play a pivotal role in accelerating the development of a robust National Highway Network. * **Raajmarg Infra Investment Managers Pvt. Ltd. (RIIMPL):** * RIIMPL is the Investment Manager for RIIT. * RIIMPL is a collaborative venture with equity participation from leading banks and financial institutions like 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. * Shri NRVVMK Rajendra Kumar is the Managing Director and CEO (Additional Charge) of RIIMPL. * **Strategic Importance:** * The SEBI approval represents a significant milestone in expanding public participation in India's National Highway infrastructure growth. * This is an important step towards achieving NHAI's asset monetization objectives. * The senior leadership team is well positioned to create meaningful long-term investment opportunities for the public. **Impact Analysis** **Stakeholder:** National Highways Authority of India (NHAI) **Impact:** NHAI can now proceed with its asset monetization program through the Public InvIT, attracting investments from retail and domestic investors to strengthen the National Highway network. **Action Required:** Execute the Public InvIT strategy to unlock monetization potential and attract investments. **Stakeholder:** Retail and Domestic Investors **Impact:** Opportunity to participate in the growth of National Highway infrastructure through long-term investment instruments. **Action Required:** Evaluate the investment opportunities offered by the Public InvIT. **Stakeholder:** Raajmarg Infra Investment Managers Pvt. Ltd. (RIIMPL) **Impact:** RIIMPL is at the forefront of managing and driving the initiative forward. **Action Required:** Take the initiative forward and create meaningful long-term investment opportunities for the public.

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