As part of the initiative, NHAI has incorporated Raajmarg Infra Investment Managers Private Limited (RIIMPL) as the Investment Manager for the proposed InvIT.
RIIMPL is a collaborative venture with equity participation from major banks and financial institutions, including State Bank of India, Punjab National Bank, NaBFID, Axis Bank, Bajaj Finserv Ventures, HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank and Yes Bank. The 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) at NHAI, has been appointed as Managing Director and CEO (Additional Charge) of the Investment Manager.
Highlighting NHAI’s performance, Chairman Santosh Kumar Yadav said the authority has built a strong track record in asset monetisation. In recent years, NHAI has monetised assets worth Rs 489.95 billion through the Toll-Operate-Transfer (TOT) model and raised Rs 436.38 billion across four rounds of Private InvITs, drawing interest from major domestic and international investors.
Over the next three to five years, about 1,500 km of completed and operational National Highways will be added to the Public InvIT, opening substantial investment avenues for the public. Yadav said the initiative would mark a new chapter of public participation in highway infrastructure building.
RIIMPL will prioritise strong governance standards aligned with SEBI’s InvIT regulations, focusing on transparency, investor protection and robust reporting and compliance frameworks. The first issuance of InvIT units for retail and public investors is expected in February 2026.
