The National Highways Authority of India or NHAI has started preparing for the IPO of a highways infrastructure investment Trust (Invit). NHAI has asked for dialects from top law firms to work as a legal advisor in stock sales. Moneycontrol has come to know from sources that NHAI can raise up to Rs 10000 crore from this IPO.
One of the sources said, “Last month NHAI had invited bids to help the authority set up and appoint a legal advisor to advise the IPO of Invit. The process of appointing a legal advisor is expected to be completed this month.”
NHAI already invites an operator
This will be the second invit of NHAI. NHAI already operates a private invit ‘National Highways Infra Trust’ (NHIT). It also has an investment of Global Investors CPP Investments and Ontario Teachers Pension Plan. Sources say that the impatient details of Invit such as the properties to be placed under the trust will be decided later.
The toll-operate-transfer route as well as invites for Invits, NHAI has emerged as a successful route of monetization. This has helped the authority to raise funds for the development of the new project. Invit IPO will help NHAI to reach a broad group of investors including retail investors.
Talking about some other invits, there is also a preparation to bring IPO of Wortis Infrastructure Trust and Cube Highways Invits. About 5000 crore rupees can be raised from them. The Capital Infra Trust came in January this year and the public issue of India Highways Invit in February 2024.
Disclaimer: Here information provided is being given only for information. It is necessary to mention here that the investment market in the market is subject to risks. Always consult experts before investing money as an investor. There is never advice to anyone to invest money on behalf of Moneycontrol.