Raajmarg Infra Investment Trust Invit Limited
Minimum investment
Bidding date
11 Mar - 13 Mar 2026
Price range
₹99 - ₹100
Minimum quantity
150
Minimum investment
₹15,000
Issue size
₹6,000 Cr.
IPO doc (link)
RHP docs
Listing exchange
NSE/BSE
Raajmarg Infra Investment Trust (RIIT) is an Infrastructure Investment Trust (InvIT) incorporated to acquire, operate, and maintain operational road infrastructure assets in India. The trust was registered with the Securities and Exchange Board of India (SEBI) on December 22, 2025 under the InvIT Regulations. The trust has been established to manage a portfolio of operational toll road assets developed under the National Highways Authority of India’s (NHAI) Toll Operate Transfer (TOT) model. These assets are strategically located across major economic corridors in India and form part of the Golden Quadrilateral highway network. The current toll road portfolio includes five operational road stretches: Gorhar to Barwa Adda, Chilakaluripet–Vijayawada, Chennai Bypass, Chennai–Tada, and Nelamangala–Tumkur. These assets span across Jharkhand, Andhra Pradesh, Tamil Nadu, and Karnataka with a total length of approximately 260.198 km. Raajmarg Infra Investment Trust is sponsored by the National Highways Authority of India (NHAI), which operates under the Ministry of Road Transport and Highways, Government of India. The trust’s project special purpose vehicles (SPVs) hold the exclusive rights to operate, maintain, manage, and collect toll user fees for these highways under concession agreements signed with NHAI. Through this InvIT structure, the trust aims to generate stable long-term cash flows from toll collections while maintaining and operating key road infrastructure assets across the country.
Government-Sponsored InvIT: The trust is backed by NHAI, which provides strong credibility and operational experience in the road infrastructure sector.
Diversified Toll Road Portfolio: The InvIT holds multiple operational toll road assets across different states, reducing dependence on a single project.
Stable Infrastructure Asset Class: Road infrastructure assets typically generate steady revenue through toll collection over long concession periods.
Strategic Economic Corridors: The roads are part of important transport routes connecting key economic regions in India.
Experienced Management and Sponsor: The sponsor has extensive experience in developing, operating, and maintaining national highways in India.
Limited Operating Track Record: As a newly established InvIT, the trust does not yet have an operational track record as an investment vehicle.
Traffic and Toll Revenue Risks: Revenue depends heavily on traffic volume and toll collections, which may fluctuate due to economic conditions or regulatory changes.
Regulatory and Policy Risks: Infrastructure projects are subject to government policies and regulatory changes that could impact operations or revenue.
Long Gestation Period: Infrastructure investments generally require long investment horizons and may not generate immediate high returns.
Dependence on Concession Agreements: The performance of the assets depends on the terms and duration of concession agreements with NHAI.
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