NHAI raises Rs 1,217 crore through InvIT, adds three road projects

Last year, the InvIT saw investments from CPP Investments and Ontario Teachers' Pension Fund at an enterprise value of Rs 8011 crore

National Highways Infra Trust, the infrastructure investment trust (InvIT) of National Highways Authority of India (NHAI), has raised Rs 1,217 crore from investors in its follow-on offer, the ministry of road transport and highways (MoRTH) announced on Monday.

The issue was fully subscribed before closing, with NHAI’s own share of investment being Rs 213 crore, MoRTH said. While the ministry had been planning to expand its investor pool, there is currently no information available on which institutional investors have been involved in the latest issue.

The latest issue involves the addition of three toll roads to the InvIT’s current portfolio