The first public issue of the National Highways Authority of India (NHAI)-sponsored Highway Infra Investment Trust (RIIT) was listed on the Bombay Stock Exchange (BSE) in the presence of Union Minister for Road Transport and Highways, Shri Nitin Gadkari.

Under the Government of India's 'National Monetisation Pipeline' (NMP-1), the Ministry of Road Transport and Highways and the National Highways Authority of India have achieved asset monetisation of about INR 1.5-lakh-crore through instruments such as privately set up 'Infrastructure Investment Trusts' (InvITs) and 'securitization' on a 'Toll-Operate-Transfer' (ToT) basis. With this strong performance, the Ministry of Road Transport and Highways has emerged as the best performing Ministry under NMP-1, reflecting the Government’s commitment to implementing innovative and transparent financing mechanisms for infrastructure development.

With an aim to sustain this momentum under NMP-2, the Authority has set up an infrastructure investment trust called the 'Highway Infra Investment Trust’ (RIIT). It operates under the regulatory framework of the Securities and Exchange Board of India (SEBI).

Speaking on the occasion, Union Minister, Shri Nitin Gadkari said, “Highway InvIT is a transformational initiative, which will provide an opportunity to the National Highway users to become stakeholders in these projects. This will help road users to realize the dream of becoming road owners very soon.”

In his address, Shri Nitin Gadkari described the listing as a significant milestone in India's infrastructure development. He also acknowledged the strong investor confidence. The sale of these shares received almost 14 times more demand.

Outlining the future plans, Gadkari said that the government aims to monetise 1,500 km of highways through the InvIT route in the next three years. He emphasized that the approach reflects a broader vision of infrastructure development based on public investment and participation.

The financing required for the acquisition of these assets is being done through a mix of equity and debt. This includes equity issuance of about INR 6,000-crore, with the balance being raised through bank financing.

In the equity issue, EPFO and SBI Life Insurance have invested about INR 1,260-crore as strategic investors. Additionally, prominent investors including insurance companies, pension funds, provident funds, and financial institutions have invested around INR 1,728-crore.

The remaining portion of the issue — amounting to about INR 2,100-crore — was offered to public investors. The response was overwhelming and it was almost 14 times fuller. This indicates the strong investor confidence in India's infrastructure sector, the government's asset monetisation programme, and the long-term growth potential of National Highway assets.