The initial public offering of National Highways Authority of India-sponsored Raajmarg Infra Investment Trust was subscribed 13.74 times at the end of Friday. The ₹6,000-crore IPO received bids for 293.15 crore units against 21.33 crore units on offer, as per NSE data. The InvIT’s IPO price has been fixed at ₹99-100 per unit.
The portion for institutional investors received 19.14 times while non-institution portion received bids for 7.26 times.
Anchor investors
Ahead of the IPO, Raajmarg Infra Investment Trust (RIIT) mopped up ₹1,728 crore from anchor investors, who included LIC, ICICI Prudential Life Insurance, Kotak Mahindra Life Insurance and Bajaj Life Insurance.
The public InvIT aims to unlock the monetisation potential of the National Highway assets while creating a high-quality, long-term investment instrument primarily targeting retail and domestic investors.
The InvIT proposes an initial portfolio of five toll roads in Jharkhand, Andhra Pradesh, Tamil Nadu, and Karnataka, operating under the Toll-Operate-Transfer model based on concessions granted by the NHAI to the project SPV.
The toll roads consist of five toll roads spanning over 260 km, forming part of the Golden Quadrilateral project.
Published on March 13, 2026
