Now Retail Investors Can Bet on Highways as NHAI Gets SEBI Nod for Raajmarg InvIT

The National Highways Authority of India (NHAI) has secured regulatory approval from the Securities and Exchange Board of India (SEBI) to launch Raajmarg Infra Investment Trust (RIIT) as a public Infrastructure Investment Trust (InvIT), marking a key milestone in its asset monetisation strategy. The move is aimed at unlocking value from operational national highway assets while offering retail and domestic investors a new avenue to participate in India’s infrastructure growth story.

RIIT has been structured as a public InvIT, with a focus on creating a long-term, yield-generating investment vehicle backed by revenue-producing highway assets. By opening the trust to public participation, NHAI seeks to broaden investor access to infrastructure assets that were traditionally limited to institutional players, while also recycling capital for fresh highway development.

Also Read: SEBI Gives In-Principle Approval to NHAI’s Raajmarg InvIT, Boosting Highway Asset Monetisation Push | Republic World

As part of the initiative, NHAI has already incorporated Raajmarg Infra Investment Managers Pvt. Ltd. (RIIMPL) as the investment manager for RIIT. RIIMPL has been set up as a collaborative platform with equity participation from several leading banks and financial institutions, including 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 diversified shareholding is expected to strengthen governance standards and enhance investor confidence in the InvIT structure.

Shri NRVVMK Rajendra Kumar, Member (Finance), NHAI, will serve as Managing Director and Chief Executive Officer (additional charge) of the investment manager, providing strategic oversight to the trust’s operations and asset management.
Commenting on the development, NHAI Chairman Santosh Kumar Yadav described SEBI’s approval as a significant step towards expanding public participation in national highway infrastructure. He noted that the experienced leadership team at RIIMPL is well positioned to drive the initiative forward and create sustainable, long-term investment opportunities for the public, while also supporting NHAI’s broader monetisation goals.
With the approval in place, RIIT is expected to play a pivotal role in deepening retail investor involvement in infrastructure financing. The model is also aligned with the government’s broader push to use InvITs as a tool to fund large-scale infrastructure expansion, reduce fiscal pressure and accelerate the development of a robust national highway network across India.