NHAI plans to launch first tranche of InvIT by end of May: Officials

NHAI has also decided to keep its InvIT IPO open only for institutional investors. It plans to raise ₹5,100 crore through a fresh issue, as per the draft papers filed with SEBI. In addition, there would be an offer for sale, say sources.

Yaruqhullah Khan

May 18, 2021 / 14:10 IST

Representative Image (Image: NHAI)

The National Highways Authority of India (NHAI) is working to launch its maiden Infrastructure Investment Trust (InvIT) by the end of May or by the start of June, its officials told Moneycontrol.

NHAI chairman Sukhbir Singh Sandhu had, on April 1, said that the first tranche of the company’s InvIT worth Rs 5,000 crore will be launched by mid-May.

However, due to the outbreak of the second wave of COVID-19, the company's plans were slightly delayed following uncertainties around the restrictions to be imposed on construction, with lockdowns being imposed across the country.

The company is now looking to fast-track the launch of its InvIT as restrictions surrounding construction activities in the country are much lower this time around, compared to the national lockdown last year, sources said.

“When lockdowns were announced again across the country, the equity markets were showing instability around the construction sector. Now, most of the uncertainties surrounding restrictions around the construction sector are addressed and the company is looking to go forward with the InvIT," a source said.

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