The National Highways Infra Trust (NHIT), an Infrastructure Investment Trust (InvIT) established by the National Highways Authority of India (NHAI) in 2020, has successfully concluded its fourth round of fundraising, achieving an enterprise value of Rs 18,380 crore. This marks the largest monetization transaction in India’s roads sector, bringing the total realized value across all rounds to over Rs 46,000 crore.
In this round, NHIT secured Rs 8,340 crore in unit capital from domestic and international investors and Rs 10,040 crore in debt financing from Indian lenders. The funds will be used to acquire key national highway stretches, including Anakapalle – Narsannapeta, Gundugolanu – Kovvuru, and Chittoor – Mallavaram in Andhra Pradesh; Bareilly – Sitapur and Muzaffarnagar – Haridwar in Uttar Pradesh and Uttarakhand; Gandhidham – Mundra in Gujarat; and Raipur – Bilaspur in Chhattisgarh. The total concession value stands at Rs 17,738 crore.
Investors included EPFO, L&T PF, Indian Oil Corporation PF, insurance firms, financial institutions, and global pension funds like the Canada Pension Plan Investment Board. Notably, EPFO invested Rs 2,035 crore, marking its first-ever investment in an InvIT. NHIT’s portfolio now expands to 26 toll roads spanning 2,345 km across 12 states, reinforcing its role in India’s highway monetization.
