Raajmarg Infra InvIT to launch ₹6,000cr IPO: Key details
Raajmarg Infra InvIT, backed by NHAI, is launching its first-ever IPO with a price band of ₹99-100 per unit. The total issue size is ₹6,000 crore.
You can apply between March 11 and March 13.
How to apply?
To invest, you'll need to buy at least one lot (150 units), which comes to ₹14,850.
Most of the offer is set aside for big institutional investors (75%), while the rest is for non-institutional buyers (25%).
Allotment happens on March 18 and listing on both BSE and NSE is expected by March 24.
What will the proceeds be used for?
This trust proposes to have an initial portfolio of five toll road projects across Jharkhand, Andhra Pradesh, Tamil Nadu, and Karnataka—spanning more than 260km in total.
It's designed to let retail investors get a slice of NHAI's highway assets.
The investment manager includes big names like SBI and Axis Bank.
Who are the merchant bankers?
The IPO is being advised by SBI Capital Markets Ltd., Axis Bank Ltd., ICICI Securities Ltd. and Motilal Oswal Investment Advisors Ltd.
Interestingly, the issue size was bumped up from ₹5,700 crore in earlier plans to ₹6,000 crore now.