NHAI gets Sebi’s in-principle approval to register RIIT as InvIT

Markets regulator Sebi has given in-principle approval to the registration of ‘Raajmarg Infra Investment Trust’ (RIIT) as an Infrastructure Investment Trust (InvIT) and will get the final nod after it meets specific requirements in the next six months, an official statement said on Friday.As part of the process to secure final registration, RIIT will have to fulfill specific conditions over the next six months. These conditions include the appointment of directors, filing required financial statements and compliance with other legal requirements, it added.

The statement said that InvIT aims to unlock the monetization potential of the National Highway assets while creating a high-quality, long-term investment vehicle primarily targeting retail and domestic investors.

under the Sebi Regulations, 2014

Last month, NHAI Raajmarg Infra Investment Managers Pvt. Ltd. (RIIMPL) as investment manager for RIIT.

RIIMPL was established as a partnership with equity participation from leading banks and financial institutions including State Bank of India, Punjab National Bank, NaBFID, Axis Bank, Bajaj Finserv Ventures Ltd., HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank and Yes Bank.

Fully aligned with Sebi’s InvIT regulations, the statement said, the public InvIT framework will ensure transparency, strong investor protection mechanisms, best-in-class reporting and compliance standards.