Premji Invest buys 2.61% unit-holding in NHIT for Rs 754 crore

Azim Premji (File image)

Private equity firm Premji Invest on Monday bought 2.61 per cent unit-holding in National Highways Infra Trust (NHIT) for Rs 754 crore through open market transactions.

Billionaire Azim Premji's PE firm, through its arm Prazim Trading and Investment Company Pvt Ltd, purchased a total of 5.06 crore units, representing a 2.61 per cent unit-holding in NHIT, as per the bulk deal data available on the NSE.

The units were acquired at an average price of Rs 149.06 per unit, taking the transaction value to Rs 754.24 crore.

Meanwhile, Vidyaniti LLP sold the same number of units at the same price, as per the data on the National Stock Exchange (NSE).

Prazim Trading and Investment Company is one of the promoter group entities of IT major Wipro.

National Highways Infra Trust's units rose 0.57 per cent to close at Rs 149 apiece on the NSE.

In March this year, two entities, including Vidyaniti LLP bought a 4.25 per cent unit-holding in NHIT for Rs 1,100 crore from National Highways Authority of India (NHAI).

NHIT, an infrastructure investment trust sponsored by the NHAI, was set up in 2021 to support the government's National Monetisation Pipeline.