The initial public offering (IPO) of NHAI-backed Raajmarg Infra Investment Trust (InvIT) witnessed strong demand from investors, with the issue subscribed 13.74 times on the final day of bidding.
The ₹6,000-crore public issue, which opened for subscription on March 11 and closed on March 13, received bids far exceeding the units on offer, indicating healthy investor interest in infrastructure investment trusts.
Institutional investors drove the subscription, with their category seeing the highest demand. Other investor segments also recorded solid participation during the three-day bidding period.
The price band for the issue was fixed at ₹99–₹100 per unit.
According to market timelines, the basis of allotment is expected to be finalised on March 18, while the units are likely to be listed on the BSE and NSE on March 24.
Raajmarg InvIT manages a portfolio of operational highway assets developed under the National Highways Authority of India’s (NHAI) toll-operate-transfer (TOT) model. The InvIT structure allows investors to earn returns from income generated by infrastructure projects such as toll roads.
Proceeds from the issue will mainly be used to support project entities and meet financial obligations related to the highway assets.
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