Bharat Highways InvIT to raise Rs 3,000-crore through rupee-term loans

To retire debt of seven road projects that it will acquire

Bharat Highways InvIT (BH InvIT) plans to raise Rs 3,000 crore through rupee-term loans (RTLs) in an arrangement to repay existing debt of seven operating road assets that it is set to acquire.

These road assets are located in Punjab, Gujarat, Andhra Pradesh, Maharashtra and Uttar Pradesh.

Bharat Highways InvIT, floated by GR Infraprojects, will acquire 100 per cent stake in road projects under six special purpose vehicles (SPVs) and 49 per cent one SPV. 

These SPVs are Porbandar-Dwarka Expressway, Varanasi-Sangam Expressway, GR Sangli-Solapur Highway, GR Akkalkot-Solapur Highway, GR Phagwara Expressway and GR Gundugolanu-Devarapalli Highway. 

In GR Dwarka-Devariya Highway, it