NHAI to Launch Raajmarg Infra Investment Trust as Public InvIT by FY26

State-owned National Highways Authority of India (NHAI) announced plans to establish Raajmarg Infra Investment Trust (RIIT) as a Public InvIT to unlock the monetisation potential of national highway assets. The initiative will allow retail investors to participate in infrastructure investments through listed InvIT units, similar to mutual funds or equities. The first issuance for public investors is expected in February 2026, according to an official statement.

Structure and Key Stakeholders

As part of the plan, NHAI has incorporated Raajmarg Infra Investment Managers Pvt Ltd (RIIMPL) as the Investment Manager for the proposed InvIT. RIIMPL is a collaborative venture with equity participation from 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.

Asset Monetisation Track Record

“NHAI has established a robust 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,” NHAI Chairman Santosh Kumar Yadav told PTI.

Yadav further said, “Over the next 3–5 years, around 1,500 km of completed and operational National Highways will be introduced into the Public InvIT, opening substantial investment avenues for the public.”

Governance and Compliance Framework

RIIMPL will focus on establishing robust governance standards, fully aligned with SEBI's InvIT regulations, ensuring transparency, investor protection, as well as best-in-class reporting and compliance frameworks. NRVVMK Rajendra Kumar, Member (Finance), NHAI, has been appointed as the Managing Director and CEO (Additional Charge) of the Investment Manager company.

Read More: ArisInfra Solutions Q2 FY26 Earnings Results.

Conclusion

NHAI’s move to launch a Public InvIT marks a significant step toward deepening retail participation in infrastructure investments. By leveraging its strong monetisation track record and partnering with leading financial institutions, the authority aims to create a transparent and regulated investment platform. The upcoming issuance in February 2026 is expected to attract wide interest from investors seeking long-term returns from operational highway assets.

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