Raajmarg Infra Investment Trust InvIT

Raajmarg Infra Investment Trust is an infrastructure investment trust that owns and operates toll road assets in India. It was registered with the Securities and Exchange Board of India as an InvIT on 22 December 2025 and is sponsored by the National Highways Authority of India, which functions under the Ministry of Road Transport and Highways. The trust is run by its investment manager, Raajmarg Infra Investment Managers Private Limited, with IDBI Trusteeship Services acting as the trustee. The trust's initial portfolio comprises five operational toll road stretches acquired under the National Highways Authority's Toll Operate Transfer framework, together spanning roughly 260 km. These stretches lie across Jharkhand, Andhra Pradesh, Tamil Nadu and Karnataka, and cover the Gorhar to Barwa Adda, Chilakaluripet to Vijayawada, Chennai Bypass, Chennai to Tada and Nelamangala to Tumkur sections. Under the Toll Operate Transfer model, the trust holds long term rights to collect toll revenue on these highways in return for an upfront concession payment to the authority. Its earnings therefore track traffic volumes on the underlying corridors and the terms of the concession agreements. As a yield oriented vehicle, the trust is structured to pass the cash generated by its road assets through to unitholders over the life of the concessions.

The trust raised about 1,728 crore rupees from 73 anchor investors ahead of the issue, allotting 172,800,000 units at 100 rupees each. Anchor participants included LIC, ICICI Prudential Life Insurance, Kotak Mahindra Life Insurance and Bajaj Life Insurance, along with mutual funds such as HDFC, Nippon India and Axis and various provident funds.