NHAI moves ahead with public InvIT to open highway investment to citizens
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To enhance road asset monetisation and broaden investment opportunities in the development of National Highway infrastructure, NHAI is working on establishing Raajmarg Infra Investment Trust (RIIT) as a Public InvIT. As part of this initiative, NHAI has formed Raajmarg Infra Investment Managers Private Limited (RIIMPL) to serve as the Investment Manager for the proposed InvIT.
NHAI Chairman Santosh Kumar Yadav launched RIIMPL in Mumbai. Senior NHAI officials and representatives from participating institutions also attended the event.
According to the press release, RIIMPL is a collaborative venture with equity participation from leading banks and financial institutions, including the 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. This partnership aims to unlock the monetisation potential of National Highway assets while creating a high-quality, long-term investment product primarily targeting retail and domestic investors.
NRVVMK Rajendra Kumar, Member (Finance) of NHAI, has been appointed as the Managing Director and CEO (Additional Charge) of the Investment Manager company.
The NHAI Chairman, Santosh Kumar Yadav, said, “NHAI has built a strong track record in asset monetisation. In recent years, we have successfully monetised assets worth ₹48,995 crore through the Toll-Operate-Transfer (TOT) model and raised around ₹43,638 crore across four rounds of Private InvITs, attracting major domestic and international investors.
January 2026
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Over the next 3–5 years, about 1,500 km of completed and operational National Highways will be included in the Public InvIT, creating significant investment opportunities for the public. I am confident that this initiative will usher in a new phase of public participation in developing the country’s National Highway infrastructure.”
RIIMPL will focus on establishing robust governance standards, fully aligned with SEBI’s InvIT regulations, ensuring transparency, investor protection, and leading reporting and compliance frameworks. The first issuance of InvIT units for retail and public investors is expected in February 2026, according to the press release.