NHAI-backed Raajmarg Infra InvIT Raises ₹1,728 Crore from Anchor Investors Ahead of IPO
Strong Institutional Demand Signals Confidence in Toll Road Portfolio; Anchor Book Oversubscribed with Participation from Leading Domestic & Global Funds
Bhopal: Raajmarg Infra InVIT, backed by the National Highways Authority of India (NHAI), has successfully raised ₹1,728 crore from anchor investors ahead of its maiden public offer, the company announced today.
The anchor round saw overwhelming response, with the book reportedly oversubscribed by more than 2.5 times. The final allocation was made to a diversified set of marquee domestic mutual funds, insurance companies, pension funds and global institutional investors at the upper end of the proposed price band.
Key Highlights of the Anchor Round
- Total amount raised: ₹1,728 crore
- Number of anchor investors: 28
- Major participants included leading names from HDFC Mutual Fund, SBI Mutual Fund, ICICI Prudential MF, LIC, UTI, Aditya Birla Sun Life MF, Axis MF, Kotak MF, Nippon India MF, and several large foreign institutional investors.
- Allocation price: Top end of the indicative price band (exact band to be announced with RHP)
- Lock-in: Standard 30-day lock-in for anchor shares as per SEBI regulations
Portfolio Snapshot
Raajmarg Infra InVIT comprises a high-quality, operational portfolio of toll-road assets spread across multiple states with long concession periods remaining. The InvIT benefits from:
- Stable, inflation-linked toll revenue
- Low counterparty risk (NHAI annuity + toll collection)
- Strong sponsor support from NHAI-backed entities
- Robust debt coverage metrics and predictable cash flows
Market & Investor Sentiment
- The strong anchor response is seen as a positive signal ahead of the public issue.
- Analysts expect healthy retail & HNI participation given the defensive nature of InvIT cash flows and attractive yield potential.
- Listing likely to attract long-term income-focused investors, pension funds and insurance companies seeking stable dividend-paying assets.
Next Steps
- Public issue (including retail, HNI & QIB portions) expected to open in the coming week.
- Final price band, lot size and detailed offer structure to be disclosed with the Red Herring Prospectus (RHP) shortly.
Raajmarg Infra InVIT’s anchor success underscores continued institutional appetite for high-quality infrastructure yield assets despite volatile broader market conditions.
